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Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179966-MS
... this as S = max{ ψ a − Δ, 0}. If surplus is non-negative, negotiations will result in exchange at price p a , which is the outcome of a generalized Nash Bargaining problem. The price is determined by the functional equation p a = a r g m a x p a [ ( p a + V...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179983-MS
... forecasting History assumption production monitoring Duong production data Reservoir Surveillance production rate estimation forecast production history economics well lifetime boundary-dominated flow recovery Arp unconventional well equation decline rate ultimate recovery Bakken well...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179984-MS
... geology usage heterogeneity completion practice equation Introduction Gradually increasing production of natural gas from shale formations has surpassed the production from all other sources, including conventional, coal-bed, and tight formations in the U.S. (EIA, Monthly Energy Review, Jan...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179959-MS
... deconvolution bottomhole Decline Model equation reservoir Rate – Pressure Deconvolution In rate transient analysis, when rate vs. time data exhibits a decline behavior, a rate decline model can be applied to extrapolate the production into future and ultimate recovery can be estimated at a specified...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169841-MS
... Deviation precision Drilling Result lognormally equation unconventional reservoir society of petroleum engineers Introduction Suppose we plan to develop a field by drilling up to N wells. Each well i (= 1 to N ) will produce an uncertain quantity of reserves X i . We assume that the X...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169856-MS
... procedure early development field probabilistic method Murtha reserves evaluation calculation production history situche central field peripheral technology hydrocarbon guideline application field 1 society of petroleum engineers estimation probabilistic approach equation full range...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-159391-MS
... that has linear flow behavior. This equation can be integrated and shown to match curves as well as other methods of decline curve analysis and reserve estimation currently available. Lastly, the method will be shown to be highly robust and effective in a number of difficult to forecast environments...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-161792-MS
... this new model structure. market analysis new exploration price prediction supply and demand forecasting projection model price projection model demand rate oil price supply and demand pricing upstream oil & gas argument prediction model excess capacity demand change equation...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162631-MS
... forecasting methods have serious shortcomings. A class of empirical decline equations, termed stretched exponentials, was meant to address these forecasting weaknesses. These equations targeted unconventional gas and held great promise for predicting reserves from wells that were previously forecast using...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162875-MS
... and risks. In this study, we present an analytical uncertainty propagation method (AUPM) for modeling of uncertainties on volumetric reserve estimations. Analytical uncertainty propagation equations (AUPEs) are derived based on a Taylor-series expansion around the mean values of the input variables...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-129566-MS
...) Alternate specifications of the ED, RSM, and optimization model: Multiple auxiliary equations Endogenous timing of real options Multiple option points. This paper was selected for presentation by an SPE program committee following review of information contained in an abstract submitted...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94520-MS
... the governing partial differential equation is second-order in the spatial coordinates, two boundary conditions are required for each case that need to be consistent with the prescribed initial condition. Boundary conditions imposed at infinity are called infinity conditions. Infinity condition for Case 1...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94886-MS
... distribution likelihood equation procedure spe 94886 upstream oil & gas society of petroleum engineers posteriori distribution Bayesian statistic is based on one simple idea: "the only satisfactory description of uncertainty is by means of probability ." 8 The Bayes theorem has been...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94665-MS
...Discounted cash flow (DCF) The NPV is defined as (Brealey & Myers 6 ): (1) NPV = ∑ t = 1 T X t ( 1 + μ ) t , where X t refers to project net cash flows and µ is capital cost. Equation 1 provides project net present value under static...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82012-MS
... measures, and satisfies these constraints. In many cases, these problems can be readily expressed in the form of a set of linear equations, such that, global optimum values can be determined through the method of Linear Programming. As the complexity of corporate goals increase, non-linearities are often...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82041-MS
... is equally dependent on other factors such as the responsiveness of non-OPEC supply to price change, non-OPEC productive capacity levels, and world oil demand response to price change. Equation (3) describes the relationship between the elasticity of demand for OPEC (Eopec), world oil demand elasticity...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82017-MS
... artificial intelligence portfolio analysis upstream oil & gas decision support system prospect probability modeling & simulation risk management spe 82017 portfolio optimization monte carlo simulation semi-standard deviation equation information optimal portfolio tolerance matrix...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 2–3, 2001
Paper Number: SPE-68604-MS
... equations are estimated using OCS data on reserves and oil and gas wells drilled from 1977-1998. The empirical results indicate a statistically significant evidence of diminishing returns as drilling increases on the OCS. The estimated elasticities of oil and gas reserves additions with respect to resource...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52943-MS
... replacement reserves evaluation spreadsheet estimator circumstance shareholder simple sum clt central limit theorem equation coefficient What Can You Expect in these Pages? We'll first talk about what goes wrong with old style combining of reserves estimates. Then we move onto how to do...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52949-MS
... asset and portfolio management discount rate simulation information project valuation option pricing equation time value probability decision tree learning node monte carlo simulation upstream oil & gas artificial intelligence differential equation managerial flexibility procedure...

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