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Keywords: assessment
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Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179961-MS
... hours using a combined power of an exploration decision support tool with fit-for-purpose and fit-to-data risks, resource, and value assessment that honors all risks and uncertainties; a workflow management tool for decision optimization based on a multiple-realization approach powered by various...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179951-MS
... portfolio when assessed on a risk vs reward basis ( Back and Kirk 2012 ). Proposed Solution The proposed solution will address the technical challenges and not specific organizational factors that may have an impact on successful deployment and adoption. The solution is defined as a central shared...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169830-MS
..., and the organization to the new vision. The first step in the digital energy process, regardless of a project’s size, should bean assessment of an organization’s current state including its level of understanding of DE, readiness to change, and what a digital energy initiative may contain. An assessment is a way...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169855-MS
... Abstract A management decision-making and planning tool has been developed to provide a quick, high-level resource quality assessment of oil sands assets to enable economics-based ranking of investment opportunities. It is systematic and transparent, largely avoiding the subjectivity and human...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169868-MS
... structure for ensuring that risks are adequately considered from a corporate perspective, by capturing individual uncertainties, aggregating these into a common whole, and assessing aggregate uncertainty against the metrics relevant to company performance. When employed effectively, these techniques make...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162903-MS
... -- the focus here is on the practical application of the method and advice on carrying it out. A VOI assessment is made on three proposed appraisal well targets in a discovered deepwater oil field. A standard application of VOI is used, using several key subsurface risks and uncertainties as the learning...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162914-MS
... artificial intelligence machine learning risk management project economics complex reservoir asset and portfolio management coal seam gas modeling eur well assessment simulation well performance estimate production activity project valuation upstream oil & gas pilot production...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-130157-MS
... Abstract Sound decision making requires the elicitation and quantification of key uncertainties. Probabilities are, in general, subjective and most petro-technical experts find assessing them challenging. Furthermore, much evidence shows that, although they may not be aware of it, assessors...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-130141-MS
.... The example assumes one company (us) has assessed chance of success, test cost, and discovery value for a subject prospect. A brute-force Monte Carlo simulation approach solves Bayesian calculations for the auction simulation. The calculations produce estimates of 1) probability of winning the auction and 2...
Proceedings Papers

Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107693-MS
... to categories. Assessments may be conducted using deterministic and/or probabilistic methods. In order to satisfy requirements of the full range of industry stakeholders, the 2007 system introduces additional classification and categorization terminology. The resulting document is a set of technical guidelines...
Proceedings Papers

Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107852-MS
... the population of evaluated projects—or at least assessing the shape of this population's distribution. We offer a process and guidelines for correcting for the optimizer's curse in both project and portfolio value calculations. Correcting estimates for systematic biases restores luster to the recommended...
Proceedings Papers

Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-108081-MS
... Shale gas plays are getting increasing interest in Canada ( Roche, 2006 ). The effort is however much less advanced than in the US. There is therefore also much less public information available for third-party assessments. In this paper we have considered broadly a potential play in eastern...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94667-MS
... Abstract Unconventional (continuous) petroleum resources present unique assessment challenges. Unconventional petroleum assets are large single accumulations that cannot be counted and analyzed as discrete entities that are delineated by downdip water contacts. This paper presents an integrated...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-90440-MS
... Abstract Industry needs to move away from standard, volume based, assessment of the success case that only involves the establishment of sufficient recoverable product, within a container of sufficient size, to enable a critical volume of product to be commercialized. Volume based techniques...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82037-MS
... the SEC Proved definition specifies use of constant prices and costs extant on the date of assessment, CIM Proved is based on "specified economic conditions, which are generally accepted as being reasonable and must be disclosed (allow use of constant or forecast prices). the SEC uses the term...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82021-MS
..., it is very important to develop fast and flexible methodologies with a low computational cost that into account the uncertainties related to economic circumstances to assess the risks in the decision making process. This paper shows a new approach applied to field development planning with horizontal wells...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 2–3, 2001
Paper Number: SPE-68602-MS
..., valuing resources, and assessing uncertainty. A data collection process is outlined so that the same data can be used for multiple purposes including long range planning, portfolio management, regulatory reporting, reserve management, technology planning, and establishing performance targets. Finally...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52948-MS
... Abstract The importance of properly characterizing undiscovered oil accumulation size distributions is demonstrated in the context of the recent US Geological Survey’s regional play assessment of the 1002 Area of the Arctic National Wildlife Refuge. The geologic and economic assessments...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52954-MS
... learning model projection trajectory scenario information bbvday assessment complexity market analysis uncertainty investment In more sophisticated learning models, mathematical functions can be used to assess the degree of uncertainty surrounding an event. These functions are based...

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