... and more diverse assets as required. The value in properly capturing project specific uncertainties and maintaining these descriptions when assessing portfolio value and risks is quantified for the examples depicted. portfolio optimization Monte Carlo simulation decision maker asset and portfolio...

... Abstract The use of a probabilistic estimation analysis system that applies Monte Carlo simulation techniques to generate a deeper understanding of the risks inherent in well operations. The software and the process associated with its application represent a step forward in providing operators...

... the development project economics using multistage scenario tree. A solid model needs to be built and tested using Monte Carlo simulation to generate the drilling and facilities costs. Thus, the model will result simulated economic indicators which will limit of maximum allowable project cost for each reserve...

... forecasting tool using Monte Carlo simulation has been developed which incorporates assessments of all major variables and takes account of historical performance and system changes. Successful implementation has resulted in the generation of realistic targets which have been met within four per cent...

... valuation technique using MS Excel Risksim tools for simulations, wherein, s tochastic process of Markov Chain integrated with Monte Carlo Simulations is used in developing Cash flow statements. Simulations running 1000+ cases using randomly changing independent and linked dependant variables...

... are executed by means of Monte Carlo simulation. The methodology allows the analyst to: ○ Quantify the probability of kick and fracturing ○ Systematize all information relevant to the occurrence of a kick ○ Pinpoint critical factors ○ Evaluate alternative solutions on e.g. well design...

... the economic analysis to a Monte Carlo simulation, which is critical for a sound management decision. Whereby, the approach tackles the four most critical factors, how much data are needed, how much resources are required, how long will it take to come to a decision, and what will be the certainty...

... derivations are introduced. In the practical part, three different OHIP methods, namely stochastic modelling, Monte Carlo Simulation and GDV, are applied on an Australian gas reservoir. The hydrocarbon estimates for each method is presented and discussed. The final results showed that the geological driven...

... dependency Diversification reservoir simulation dependence spe 101152 portfolio optimization monte carlo simulation sequential approach interaction frontier iteration expenditure portfolio model efficient frontier selection Standard Deviation deviation figure petroleum engineer...