What is the difference between Daily Ledger- Tanks, Daily Ledger Wells and Monthly Ledger - Tanks

What is a ledger and different components of it.

1. Ledger:- A ledger is a mathematical object used to track inventory which is stored at any point in a field. The main building blocks of a ledger are

   1. Product: The product for which inventory is being tracked.

   2. Object type/ Inventory Holding points: Tanks are typical inventory holding points for Oil/Water/NGLs etc. Currently JoynOG, tracks tank inventory for Oil and Water. In cases where, the user wishes to track volumes of oil/water/gas which has been injected into a well and how much of the injected inventory is still in the well, even wells can be setup as inventory holding points for Oil/Water/Gas.

   3. Transaction Date: The calendar date for which the user is checking the status of a inventory and all the volume movements in and out of the “inventory holding point”.

   4. Inventory Date: The date on which the inventory has moved into the “inventory holding point”.

   5. Volume in: The number of bbls of inventory ( oil or water) which flowed into the “inventory holding point”

   6. Volume out: The number of bbls of inventory ( oil or water) which flowed out of the “inventory holding point”

   7. Volume Remaining: The volume still remaining in the inventory holding point, belonging to each inventory-date ( the date on which the volume flowed into the inventory point)

What are Tank and Well Ledgers and when are they used:

1. Tank Ledgers: Tank ledgers are used to track product inventories in a tank. Currently JoynOG by defaults considers Tanks as inventory holding points for Oil and Water.

2. Well Ledgers: In scenarios where, the PA would want to track inventory of the injected volumes into the well( gas-injected, hot oil, load oil etc) then they may enable the appropriate setup for tracking inventories in the wells. JoynOG allows the users to track the injected-inventories for Oil/Water/Gas in wells.

What are Daily and Monthly Ledgers and when are they used:

1. Daily Ledgers: Daily ledgers are used when the production system has granular information of volume measurements on Tanks, Meters.

   1. This allows JoynOG to track product movements into the tanks and out of the tanks.

   2. This will ensure the system will be able to accurately track how much volume of a product oil/water belonging to a specific well exists in a specific tank at the beginning and the ending of a date.

   3. It also provides the information of how much of that remaining inventory belongs to which inventory-date ( the date on which the inventory flowed into the tank from the wells).

2. Monthly Ledgers: Monthly ledgers are used when the production system ( PA)

   1. does not have the granular information of volume measurements on the meter or tanks for each day of the month.

   2. This is also used, when the PA wants to use different sources of volumes for daily allocations versus monthly allocations. A typical use case is using field captured data for sales, runticket volumes and lact sales volumes, for daily allocations but use end of the month purchaser sales statement volumes for the monthly allocations.

   3. By setting up the monthly ledgers ( through custom monthly allocations) the monthly results are no more aggregated values of the daily allocation results. More details can be seen in this page. How do we setup Custom Monthly ( Non- "Sum of Daily") Allocations?

Related Articles