Systems and program product for creating and calibrating production and injection well models for a reservoir, are provided. An example of a system for creating and calibrating well models can include a well performance modeling computer and well performance modeling program product. The well performance modeling program product can include instructions that when executed by the well performance modeling computer cause the computer to perform operations including those for performing a comprehensive retrieval or gathering of required data components, feeding the gathered data into well performance software to thereby develop a model of the well, performing an initial calibration of the well model, performing a total system calibration on the well model, and performing a recalibration to fine tune the well model.