... absolute magnitude machine learning Artificial Intelligence april 2017 production monitoring Upstream Oil & Gas variance BOE estimator decline curve correction factor History production history Reservoir Surveillance unbiased estimator completion exponentiation bias future production...

... portfolio production forecast Modeling & Simulation Upstream Oil & Gas reservoir simulation Reservoir Surveillance production forecasting inventory commercial failure probability variability prospect inventory SPE economics capital program stochastic modeling timing uncertainty...

... 27 1 2016 Copyright 2016, Society of Petroleum Engineers production monitoring hydraulic fracturing machine learning Artificial Intelligence Upstream Oil & Gas likelihood iteration time rate behavior Reservoir Surveillance complex reservoir hindcast type well thm...

... NPV is defined in Eq. 1 : Copyright 2016, Society of Petroleum Engineers thermal method production control Artificial Intelligence constraint Reservoir Surveillance Upstream Oil & Gas calculation reservoir property project npv injection enhanced recovery steam-assisted gravity...

... assumption acreage tier 4 tier 5 SPE economics TCF acreage developable economics Fayetteville natural gas base case economic limit production control Energy Economics Reservoir Surveillance drilling operation undrilled acreage tier 6 Artificial Intelligence Upstream Oil & Gas Tier...

... for a regression analysis: (11) y i = B 0 + B 1 × x i 1 + B 2 × x i 2 . 7 11 2013 27 5 2014 3 4 2014 28 8 2014 30 9 2013 20 10 2014 Copyright 2014, Society of Petroleum Engineers climate change Reservoir Surveillance...

... application production rate UMD event SPE economics Implementation probability distribution Reservoir Surveillance Upstream Oil & Gas production target assumption pert distribution deferral deterministic method Maintaining reliable production forecasts for annual targets and reserves...

... historical production data with projected production by use of the adjusted REI formula (Ikonnikova et al. in review). 24 1 2013 8 5 2013 5 5 2013 9 7 2013 21 8 2013 Copyright 2013, Society of Petroleum Engineers Reservoir Surveillance complex reservoir Energy...

... interpretation salvage option fraction price path market uncertainty SPE economics Smith Reservoir Surveillance private uncertainty october 2012 ensemble probability public uncertainty References Amram , M. and Kulatilaka , N. 1998 . Real Options - Managing Strategic...

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... 20 9 2011 14 11 2011 Copyright 2011, Society of Petroleum Engineers Reservoir Surveillance continuous allocation production monitoring drillstem/well testing real time system Drillstem Testing Engineering accuracy Fw Pu production control Upstream Oil & Gas inaccuracy...

... control US government Production data Management april 2011 Hubbert model Reservoir Surveillance Upstream Oil & Gas multiple-expert analysis Artificial Intelligence world conventional oil urr normal-distribution model oil-production data prediction production data production rate Bbbl...

... rate estimation reserve estimate bootstrap method bootstrap realization percentile ci cis Upstream Oil & Gas production history production rate SPE economics DCA production monitoring reservoir surveillance production control original data Most would acknowledge that the most...