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Keywords: probability
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Proceedings Papers

Paper presented at the SPE Europec, December 1–3, 2020
Paper Number: SPE-200525-MS
... production strategy field development optimization and planning information EMV estimation risk curve RMT reservoir simulation EVOI representative model specialized strategy probability asset and portfolio management optimization problem Upstream Oil & Gas Schiozer RMO petroleum field...
Proceedings Papers

Paper presented at the SPE Europec, December 1–3, 2020
Paper Number: SPE-200579-MS
... discovery correlation Implementation prospect development solution valuation development scheme machine learning asset and portfolio management information probability tree decision tree model probability distribution Drilling conditional probability Exploration Decision joint development...
Proceedings Papers

Paper presented at the SPE Europec, December 1–3, 2020
Paper Number: SPE-200608-MS
... topmost barrier reservoir simulation flow rate combination plug cement defect leakage rate sheath reservoir surveillance application abandonment cement sheath permeability production monitoring plug defect probability distribution flowrate defect type production control probability...
Proceedings Papers

Paper presented at the SPE Europec, December 1–3, 2020
Paper Number: SPE-200599-MS
... for the next development phase, proved to be valid during the drilling campaign of more than twenty HA-HZ wells, with only minor adjustments required to propagate the model. An automated workflow for geostatistical simulations conditioned by seismic probability cubes of facies and petrophysical...
Proceedings Papers

Paper presented at the SPE Europec featured at 81st EAGE Conference and Exhibition, June 3–6, 2019
Paper Number: SPE-195480-MS
... probabilities. The production data for both conventional and unconventional fields are lognormally distributed, thus we expect that this methodology can be implemented in any field. We selected 38 wells from a Permian Basin dataset available to us, and we performed probabilistic decline curve analysis (DCA...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190771-MS
.... b) Petro-elastic cross plot: Vp/Vs ratio vs effective porosity. c) Elastic cross plot: Vp/Vs vs P-impedance. d) Well W2. Track 1: petrophysical curves; track 2: thin sections facies; track 3: core facies; track 4: petro-elastic log facies; track 5: log facies probabilities at seismic scale; track 6...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190778-MS
... model discrepancy Upstream Oil & Gas kernel function machine learning history matching model selection calibration model parameter estimation likelihood error generalization Christie Standard Deviation prediction assumption probability model discrepancy hierarchical model...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190885-MS
... permeability petrophysical property porosity workflow RRT seismic scale elastic property carbonate reservoir log scale probability society of petroleum engineers Carbonate rocks are strongly heterogeneous: a combination of complex primary fabric textures and diagenetic over-print leads to a...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190826-MS
... probability of success of 50% respectively supported by the Central Limit Theorem and Binomial Probability Theory. That is, the Central Limit Theorem dictates that the exploration probability of success cannot exceed 50%. These attributes contrast with exploration for ordered events which are allocated both a...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190871-MS
... hurdles to include the risk-taking attitude of Decision Makers (DMs), Probability of Economic Success (PES), and Probability of Maturation (POM) in the calculation of VoI. We proceed by first discussing definitions of risk and uncertainty, followed by a description of the 9TH reservoir of the Matzen...
Proceedings Papers

Paper presented at the SPE Europec featured at 80th EAGE Conference and Exhibition, June 11–14, 2018
Paper Number: SPE-190824-MS
... ikonnikova basin probability gülen In recent times, shale gas production has had a major impact on the oil and gas industry in the United States. Production from shale gas plays is the largest contributor to natural gas production in the United States, accounting for almost two-thirds of total U.S...
Proceedings Papers

Paper presented at the SPE Europec featured at 79th EAGE Conference and Exhibition, June 12–15, 2017
Paper Number: SPE-185841-MS
...: P ( I | E i ) – conditional probability of I interpreting state of nature E (likelihood function); P ( E i ) – initial probability of occurrence of state of nature E ( prior distribution); P ( E i | I ) – updated probability, i.e., the modified perception about the state of nature E...
Proceedings Papers

Paper presented at the SPE Europec featured at 78th EAGE Conference and Exhibition, May 30–June 2, 2016
Paper Number: SPE-180134-MS
... calibration are critically important. project management strategic planning and management asset and portfolio management Upstream Oil & Gas Artificial Intelligence field size Capen investment decision probability accuracy information prospect lognormal distribution society of petroleum...
Proceedings Papers

Paper presented at the SPE Europec featured at 78th EAGE Conference and Exhibition, May 30–June 2, 2016
Paper Number: SPE-180196-MS
... method is comprised of two primary elements. Firstly the problem is defined using a decision tree analysis approach that considers what decisions are to be made and their possible outcomes. Secondly, a collaborative workshop is used to estimate the probabilities required to populate the decision tree...
Proceedings Papers

Paper presented at the SPE Europec featured at 78th EAGE Conference and Exhibition, May 30–June 2, 2016
Paper Number: SPE-180186-MS
... probability of failure, i.e. migration, may be reached and its consequences assessed. The computation of the ground deformation implies coupled geomechanical flow model. At the design stage of the project, some assumptions are required due to lack of detailed data. The main results are then discussed in the...
Proceedings Papers

Paper presented at the EUROPEC 2015, June 1–4, 2015
Paper Number: SPE-174386-MS
... model from among the representative models with a probability of occurrence. The objective of the optimization process is to improve the production strategy and increase the objective function until a predefined criterion is obtained. Net present value is the objective function considered in this study...
Proceedings Papers

Paper presented at the EAGE Annual Conference & Exhibition incorporating SPE Europec, June 10–13, 2013
Paper Number: SPE-164914-MS
... characteristics include: saturation and pressure error maps, production data error and breakthrough distribution within production wells. Reservoir Characterization identify heterogeneity production data Upstream Oil & Gas reference model best time integration history-match process probability...
Proceedings Papers

Paper presented at the EAGE Annual Conference & Exhibition incorporating SPE Europec, June 10–13, 2013
Paper Number: SPE-164916-MS
... operational conditions, and avoid huge economic consequences. annular pressure drilling drilling operation input parameter pressure 0 underbalanced drilling Simulation well pressure Geopressure underbalanced operation probability distribution Artificial Intelligence Upstream Oil & Gas...
Proceedings Papers

Paper presented at the EAGE Annual Conference & Exhibition incorporating SPE Europec, June 10–13, 2013
Paper Number: SPE-164922-MS
... ). The formulation is as follows: where the approximation consists of n outcomes, v i , with probabilities, p i . The corresponding variance for this approximation is Abstract The acquisition of unconventional assets has become viable under current technical and economical conditions...
Proceedings Papers

Paper presented at the EAGE Annual Conference & Exhibition incorporating SPE Europec, June 10–13, 2013
Paper Number: SPE-164828-MS
... As discussed earlier, the value of a project with uncertain variables can only be fully characterized by a probability distribution. The difference of two distributions of the project with and without information could reveal more details of Vol compared with that of the expected values...

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