...-scale objective, such as recovery factor, and 3) performing Monte Carlo simulations to determine the relationship effect of the pore-scale parameters to the field scale responding. At pore-scale, we start with four parameters that characterize the fractures: mean aperture, relative roughness, tortuosity...

... opportunities were identified and, consequently, a Monte Carlo simulation was conducted to develop a statistical distribution for undeveloped locations in each type-well area. The authors demonstrated the use of probit plots and demonstrated the binning strategy, which could best represent the study area...

... simulation upstream oil & gas optimization reserves evaluation injection well fluid dynamics well placement optimization enhanced recovery waterflooding oil viscosity injection case 2 monte carlo simulation case 3 society of petroleum engineers petroleum engineer uncertainty margin...

... such as CAPEX, OPEX, interest rate, efficiency feedstock price, etc., and their level of influence on each economic performance benchmarks were analyzed. Monte Carlo simulation was used to carry out sensitivity analysis in each case to assess the mean and standard deviation of each economic performance metric...

... outcomes. In this paper we use Monte Carlo simulation and probability density functions (PDFs) that describe likely values of fracture half-height as an input parameter into reservoir models. PDFs and Cumulative Distribution Functions (CDFs) are used to provide realistic estimates of stimulation parameters...

... project phase yet. OPRMM starts with identifying the key factors, which could affect offshore field development. Inside the investment regime modified real option value (ROV) model for OP is developed: stop option and scale transformation option. Basing on the binominal trees and Monte Carlo Simulation...

... during the drilling scenarios. These are (1) the influx of formation fluids into the drilling mud and (2) equipment failures. A Monte Carlo simulation for the entire system is developed to assess the reliability of the drilling system at every 30' depth interval. The Monte Carlo method used different...

... the measurements, BET, t-Plot and DFT analyses are carried out and statistical analyses were performed to determine the distribution and the effective pore size of each sample. Monte Carlo simulations are performed in the Gibbs ensemble to predict thermodynamic states of methane in model pores with the resulting...

... calculations. well logging approximation sensitivity map log analysis Monte Carlo simulation sensitivity function technique geometry Upstream Oil & Gas accuracy database second-order approximation dependence FF model electron density real time system detector prediction water...

.... Such uncertainties can be described only by continuous probability distributions. Analysing by approximating Monte Carlo simulation Abstract One of the great successes of modern financial risk modelling is the application of computing technology to simulate complex continuous probability distributions...

... a powerful tool for next generation drilling software. with n r = 1.2 Upstream Oil & Gas Reservoir Characterization reservoir geomechanics pore pressure prediction Simulation pressure prediction Sylta pressure compartment real time system Monte Carlo simulation information...

... Running a Monte Carlo simulation determined an expected value of future cash flows of $858.1 million, without options. Abstract Least-Squares Monte Carlo simulation (LSM) is a promising new technique for valuing real options that has received little or no attention in the oil and gas...

... not, in practice, be as significant as previously suggested. risk management project valuation decision error budget limit asset and portfolio management Monte Carlo simulation variation disappointment Modeling & Simulation Upstream Oil & Gas selection Portfolio Selection Prediction error...

... of some real options on the efficient frontier of portfolios intends to use an integrated methodology including real options, portfolio theory and Monte Carlo simulation. Three deep-water oil projects are combined in a portfolio, where the decisor has an option to sell the project if the payback period...

... Risk analysis injection probability permeability society of petroleum engineers complex reservoir reservoir characterization reservoir simulation oil sand society reservoir asset and portfolio management analysis Scenario waterflooding bitumen spe 109637 monte carlo simulation...

... exponents were determined from clean and pure shale samples and used in the calculation of shaly sand conductivity. The most critical case of low water salinity shaly sands received particular attention. Monte Carlo simulation evaluated the uncertainty of water saturation estimates, assuming both...

... as the objective function of a Monte Carlo Simulation to study the impact of the uncertainties associated with several parameters on the model outcome, i.e. oil production and water cut is analyzed. The analysis can be performed individually on each of the 165 horizontal wells. During the analyses of uncertainty...

... that there is no flexibility on the date scheduled to drill these wells because of heavy demand on rig time. machine learning Upstream Oil & Gas information Artificial Intelligence injector multiplier risk management Monte Carlo simulation valuation future information reservoir realization reservoir...

.... Finally, a two-step Monte Carlo simulation approach was used to develop the cumulative distribution functions (CDFs) for all alternatives considered for the gas compressor project. In this two-step Monte Carlo simulation, the uncertain factors were sampled from their individual CDFs for use in a Monte...

... Abstract Monte Carlo simulation is rapidly superceding deterministic methods as the preferred technique for many well forecasting applications. This paper contrasts the two techniques and highlights the potential benefits of the former. The main part of the paper is a discussion...