What is spud date in SAP (XAP-IEP - Integrated Exploration and Production (SAP xIEP))?

SAP Term: spud date

• Component: XAP-IEP

• Component Name: Integrated Exploration and Production (SAP xIEP)

• Description: The date when the original drilling activities, for example, groundbreaking, begin for a well.

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• Key Concepts: 
  The spud date is a term used in the SAP xIEP Integrated Exploration and Production component. It is the date when a well is first drilled and is used to track the progress of the well. It is also used to calculate the estimated ultimate recovery (EUR) of the well. 
  
  How to use it: 
  The spud date is entered into the SAP xIEP system when a well is first drilled. This information can then be used to track the progress of the well and to calculate its estimated ultimate recovery (EUR). The spud date can also be used to compare different wells and their performance over time. 
  
  Tips & Tricks: 
  It is important to ensure that the spud date is accurate, as this will affect the accuracy of any calculations based on it. Additionally, it is important to keep track of any changes in the spud date, as this could affect any calculations based on it. 
  
  Related Information: 
  The spud date is related to other terms such as estimated ultimate recovery (EUR), which is calculated based on the spud date. Additionally, it can be used in conjunction with other data points such as production rates and well depths to gain a better understanding of a well's performance over time.