Looking for a way to mimic the battery-saving behavior of closing the lid without actually doing so I'm looking for a way to keep the lid up, yet tell my Macbook Pro Late 2013 to do what it would do if the lid was actually closed. When I close the lid, the battery lasts for a long time, not so when the lid is open but I sleep the display. 

I would like a way to tell my Macbook to sleep the display, yet if no interaction after a certain amount of time, then go into the mode comparable to closing the lid. All while keeping the lid open at all times because I have an external display and it's unnecessary having to close the lid when I'm done using it. When I'm ready to use it, I would just wake it using my bluetooth keyboard, or the power button. That would be comparable to opening the lid. 

I have my hibernation setting at 3. 

I'm sure there are some terminal commands to make this happen, I'm just unaware of it.
You can find these options in System Preferences > Energy Saver.

Drag the "Computer Sleep:" slider to the left.



Note that for newer Apple portables, Yosemite combines the sleep and display sleep option:

http://forums.macrumors.com/threads/2013-mba-no-computer-sleep-setting-wtf-heres-why.1598329/