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Differentials Overview

This documentation extends the Base Econ Model Documentation.

Properties​

differentials (required)​

An object containing the following properties:

firstDifferential (required)​

An object with fluid type properties, each of which must follow the FluidsGroup schema.

secondDifferential (required)​

An object with fluid type properties, each of which must follow the FluidsGroup schema.

thirdDifferential (required)​

An object with fluid type properties, each of which must follow the FluidsGroup schema.

FluidsGroup​

This schema defines the properties for each fluid type, including oil, gas, NGL, and drip condensate.

oil​

  • The oil property is an object containing the following properties:
    • escalationModel
    • rows
      • Each object in the rows array requires exactly one of the following properties:
        • dollarPerBbl
        • pctOfBasePrice
      • Each object in the rows array also requires exactly one of the following properties:
        • entireWellLife
        • offsetToAsOf
        • dates

gas​

  • The gas property is an object containing the following properties:
    • escalationModel
    • rows
      • Each object in the rows array requires exactly one of the following properties:
        • dollarPerMmbtu
        • dollarPerMcf
        • pctOfBasePrice
      • Each object in the rows array also requires exactly one of the following properties:
        • entireWellLife
        • offsetToAsOf
        • dates

ngl​

  • The ngl property is an object containing the following properties:
    • escalationModel
    • rows
      • Each object in the rows array requires exactly one of the following properties:
        • dollarPerBbl
        • dollarPerGal
        • pctOfBasePrice
      • Each object in the rows array also requires exactly one of the following properties::
        • entireWellLife
        • offsetToAsOf
        • dates

dripCondensate​

  • The dripCondensate property is an object containing the following properties:
    • escalationModel
    • rows
      • Each object in the rows array requires exactly one of the following properties:
        • dollarPerBbl
        • pctOfBasePrice
      • Each object in the rows array also requires exactly one of the following properties:
        • entireWellLife
        • offsetToAsOf
        • dates

escalationModel​

A string that can either be "none" or an Escalation Model ID that follows the pattern /^[a-f\d]{24}$/i.

rows​

An array of row objects with the following properties:

dollarPerBbl, dollarPerMmbtu, dollarPerMcf, dollarPerGal​

A number between -200 and 200, with a minimum decimal precision of 0.000001.

pctOfBasePrice​

A number between 0 and 999999999999999900000, with a minimum decimal precision of 0.000001.

entireWellLife​

A string that is an enum with a value of "Flat".

offsetToAsOf​
  • Data Type: number
  • value must be between 1 and 1200.
dates​
  • Data Type: string
  • Validation Rules:
    • The value must be a date between January 1, 1900 and April 1, 2262 in the format YYYY-MM-DD.
    • each dates property must have a "01" for the days. Ex: "2020-05-01"
    • The value for each dates property in the rows array must be at minimum one month later than the previous dates property. For Example:
        "rows": [
                {
                    "dates": "2020-01-01",
                    "pctOfBasePrice": 1000000
                },
                {
                    "dates": "2020-02-01",
                    "pctOfBasePrice": 0.123456
                },
                {
                    "dates": "2021-02-01",
                    "pctOfBasePrice": 0
                }
        ]

Validation Rules​

For each row object in the rows array, exactly one of the following properties is required:

  • dollarPerBbl, dollarPerMmbtu, dollarPerMcf, pctOfBasePrice or dollarPerGal (depending on fluid type)

Also, for each row object, exactly one of the following properties is required:

  • entireWellLife
  • offsetToAsOf
  • dates

Example​

"differentials": {
    "firstDifferential": {
        "oil": {
            "escalationModel": "6418ab17b301cfee750745eb",
            "rows": [
                {
                    "entireWellLife": "Flat",
                    "pctOfBasePrice": 0.0000001
                }
            ]
        },
        "gas": {
            "escalationModel": "64120643b301cfee75cc1a21",
            "rows": [
                {
                    "dollarPerMcf": 0,
                    "entireWellLife": "Flat"
                }
            ]
        },
        "ngl": {
            "escalationModel": "63fe159a6efdea186c676a98",
            "rows": [
                {
                    "dollarPerGal": 0,
                    "entireWellLife": "Flat"
                }
            ]
        },
        "dripCondensate": {
            "escalationModel": "6418ab17b301cfee750745eb",
            "rows": [
                {
                    "offsetToAsOf": 6,
                    "pctOfBasePrice": 100
                },
                {
                    "offsetToAsOf": 3,
                    "pctOfBasePrice": 50
                },
                {
                    "offsetToAsOf": 12,
                    "pctOfBasePrice": 0.000001
                }
            ]
        }
    },
    "secondDifferential": {
        "oil": {
            "escalationModel": "none",
            "rows": [
                {
                    "dollarPerBbl": 200,
                    "entireWellLife": "Flat"
                }
            ]
        },
        "gas": {
            "escalationModel": "none",
            "rows": [
                {
                    "offsetToAsOf": 1,
                    "pctOfBasePrice": 100
                },
                {
                    "offsetToAsOf": 1200,
                    "pctOfBasePrice": 100
                },
                {
                    "offsetToAsOf": 15,
                    "pctOfBasePrice": 100
                }
            ]
        },
        "ngl": {
            "escalationModel": "none",
            "rows": [
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 8
                },
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 6
                },
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 4
                }
            ]
        },
        "dripCondensate": {
            "escalationModel": "6418ab17b301cfee750745eb",
            "rows": [
                {
                    "dates": "2020-02-01",
                    "pctOfBasePrice": 100000
                },
                {
                    "dates": "2020-03-01",
                    "pctOfBasePrice": 0.123456
                }
            ]
        }
    },
    "thirdDifferential": {
        "oil": {
            "escalationModel": "none",
            "rows": [
                {
                    "dollarPerBbl": 200,
                    "entireWellLife": "Flat"
                }
            ]
        },
        "gas": {
            "escalationModel": "none",
            "rows": [
                {
                    "offsetToAsOf": 6,
                    "pctOfBasePrice": 100
                },
                {
                    "offsetToAsOf": 1,
                    "pctOfBasePrice": 100
                },
                {
                    "offsetToAsOf": 20,
                    "pctOfBasePrice": 100
                }
            ]
        },
        "ngl": {
            "escalationModel": "none",
            "rows": [
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 5,
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 4
                },
                {
                    "dollarPerBbl": 0,
                    "offsetToAsOf": 3
                }
            ]
        },
        "dripCondensate": {
            "escalationModel": "6418ab17b301cfee750745eb",
            "rows": [
                {
                    "dates": "2020-01-01",
                    "pctOfBasePrice": 1000000
                },
                {
                    "dates": "2020-02-01",
                    "pctOfBasePrice": 0.123456
                },
                {
                    "dates": "2020-03-01",
                    "pctOfBasePrice": 0
                }
            ]
        }
    }
}