... analysis. Traditionally, candidates are selected from ranked distributions representing quantiles (e.g., P10, P50, and P90) of the reservoir volumetrics, which assumes contiguous reservoir volumes. However, such methods lack any physical geometrical information. In this paper, a two-way clustering method...

... changes and to understand the uncertainty of the production data itself. production forecasting History Reservoir Surveillance information operation production control Upstream Oil & Gas production data presentation time scale graph production rate decline curve analysis production...

... performance. In the context of these observations it would be rational to draw fairway maps in relation to key geologic characteristics and dynamic effects utilizing all available information within and around the project area and to provide a basis for analogy which conforms better to the actual production...

... regression completion shale gas lateral length variability machine learning Upstream Oil & Gas ikonnikova complex reservoir information production function productivity producer economic analysis recovery shale gas play fluid usage coefficient marcellus play resource density algorithm...

... a Bayesian framework for updating production probabilities with the arrival of new well information. Bayesian updating requires the specification of prior and likelihood (or joint) distributions. This could be accomplished in several ways. One approach would be to use the Montney data only. Both prior...

... information and less resources, thereby, delivering results in mere minutes that would have previously taken a team of professionals several months to achieve. portfolio asset and portfolio management platform Upstream Oil & Gas hydrocarbon asset information value-added decision lifecycle...

... Abstract The paper applies commonly available public information to outline well behavior for productive trend modeling within a chosen area of the Eagle Ford shale in South Texas. Public records are often thought to contain qualitatively insufficient information to provide a reasonable...

... the exhaustive analysis of the new legislation and characteristics of the contractual areas in the context of the current internal and external factors to forecast Mexico's oil production scenario. Artificial Intelligence investment contract CNH Mexican Hydrocarbon Law complex reservoir information...

... are disregarded. This paper presents a simple workflow using Frequentist and Bayesian approaches, respectively, for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal well information. A subjective risk tolerance can...

... Portfolio analysis Artificial Intelligence Upstream Oil & Gas portfolio optimization asset investment solution asset and portfolio management business planning Implementation business planner society of petroleum engineers information asset development community Chevron project...

... are uncertain then prior drilling results at one or more locations will tell us something about the future prospects for the field. Artificial Intelligence Energy Economics mean reserve Upstream Oil & Gas information assumption probability pilot well decision analytic complex reservoir...

... by a probability distribution which depends upon our state of information about the likelihood of what the single, true value of the uncertain quantity is. Variability is quantified by a distribution of frequencies of multiple instances of the quantity, derived from observed data . That both are represented...

... are: Country Entry Information decisions Shoot Seismic or Not What Type of Seismic/Are partners needed Exploration Wells Drill or Not Timing of Drilling Program Partner Share Appraisal Wells Appraisal Strategy Development Decisions Sanction or Not Basis of Design...

... planning process starts with the information contained in their reserves database. This is not an uncommon practice as the technical information required for reserves is the starting point for business planning which includes answering the questions, "what are we starting with" (Base/PDP) and "what are we...

... bias often associated with ranking assets for capital allocation. The model utilizes the available reservoir characterization information (API gravity and petrophysical analysis including oil saturation, effective porosity, V shale, pay thickness), expected operating conditions (steam injection...

... quantities and potentially recoverable volumes may be very large, creating new and critical challenges to communicating clear and consistent information, including the associated uncertainties, relating to resource opportunities. To date, evaluators involved in estimation and reporting of ROTR have had...

... The non-informative prior probability distribution can be used to make a decision about whether or not to develop the play in the event that no information is available on the frequency of good wells. While having no information is not necessarily a practical case (i.e. in most cases some...

...-technical issues, usually embrace uncertainty due to lack of information and different criteria of reserves auditors. Conventional incremental deterministic approach ruled by guidelines of the Petroleum Resources Management System (PRMS-SPE/WPC/AAPG/SPEE) and the Securities Exchange Commission framework...

... Abstract Whenever oil and gas assets are to be divested, the selling company usually provides potential purchasers ("buyers") with their own versions of the following Acquisitions and Divestitures (A&D) documents: a ‘teaser’, a non disclosure agreement (NDA) and an information memorandum...

... the block wins the day and it is nearly impossible to increase your odds of winning short of having an edge with special information. As a result, many companies prepare their bids with a small dose of analysis and a large portion of intuition. This perhaps explains why no one particular firm masters many...