What is well completion hierarchy in SAP IS-OIL-PRA - Production and Revenue Accounting?

SAP Term: well completion hierarchy

• Component: IS-OIL-PRA

• Component Name: Production and Revenue Accounting

• Description: A group of well completions at a hierarchical level. The hierarchical level can consist of a single well completion group or multiple well completion groups.

Smart SAP Assistant

• Key Concepts: 
  Well completion hierarchy is a component of the IS-OIL-PRA Production and Revenue Accounting module in SAP. It is used to define the structure of a well, including the wellhead, casing, tubing, and other components. This hierarchy is used to track production and revenue data for each component of the well. 
  
  How to use it: 
  The well completion hierarchy is used to define the structure of a well. This includes the wellhead, casing, tubing, and other components. The hierarchy can be used to track production and revenue data for each component of the well. This data can then be used to analyze production trends and optimize operations. 
  
  Tips & Tricks: 
  When creating a well completion hierarchy in SAP, it is important to ensure that all components are accurately defined. This will ensure that production and revenue data is accurately tracked for each component of the well. Additionally, it is important to regularly review and update the hierarchy as needed to ensure accuracy. 
  
  Related Information: 
  The IS-OIL-PRA Production and Revenue Accounting module in SAP also includes other components such as production forecasting, cost accounting, and inventory management. These components can be used in conjunction with the well completion hierarchy to optimize operations and maximize profits.