... Pilot Effectiveness Energy Economics asset and portfolio management complex reservoir reserves evaluation information type well lognormal distribution machine learning Project economics estimates of resource in place resource in place estimate variance threshold well distribution...

... 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. Upstream Oil & Gas complex reservoir Artificial Intelligence information bidding process round 1...

... changes and to understand the uncertainty of the production data itself. production forecasting History Reservoir Surveillance information production monitoring initial decline reservoir dynamic operation time scale presentation production rate production history production control...

.... It is demonstrated how the view on the average expected ultimate recovery of a well in an unconventional reservoir can be continually revised as new information surfaces. Production data from a large well set from the Montney Formation, which straddles British Columbia and Alberta, Canada, is used to assess how...

... variability producer complex reservoir information production function productivity machine learning Upstream Oil & Gas ikonnikova recovery shale gas play economic analysis algorithm geology equation fluid usage heterogeneity Artificial Intelligence regression completion coefficient...

... drillstem/well testing property map contribution additional interest material balance time pressure transient testing Fluid Dynamics information production record production history highlight area well location society of petroleum engineers pressure transient analysis boundary operator...

...Conclusion Enabling a smart decision-making infrastructure through a seamless integration of engineering risks with economics and portfolio planning: Promotes better capital budget strategies; decision makers are able to access timely and up-to-date information and make the planning...

... 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...

... to the wrong development path in which wells classified as highest ranking may exhibit low 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...

... 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...

... 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...

... strategy knowledge probability distribution bidding information auction bidder lease sale bid level COB bid amount society of petroleum engineers Introduction Bidding for offshore license blocks is difficult, tedious work – months of analysis leading up to the lease sale. The auction can...

... maturity or non-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...

... than multiple-point simulation technique in terms of the amount and type of reservoir information needed to generate the porosity and permeability maps. This paper assesses economic implication of using geological models of varying levels of complexity. For this we compared the uncertainty...

... the future prospects for the field. Artificial Intelligence Energy Economics Upstream Oil & Gas machine learning log reserve mean reserve complex reservoir information assumption probability pilot well decision analytic unconventional reservoir society of petroleum engineers haskett...

... and type of investments required to develop its assets worldwide. We have long espoused the view that decision makers are able to make informed decisions when those decision makers have clarity of action. The challenge with rapidly growing companies is that they lose that clarity as when organizational...

... or not to develop a play and for the value of information from test wells. It is unreasonable to assume that the probability distribution for the frequency of productive wells can be established based entirely on experience because that precludes the possibility of events beyond our experience. Such events can...

... porosities at different locations within a specific reservoir). Uncertianty is quantified 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 petroleum engineers strategic planning and management opportunity catalog AIs project team Artificial Intelligence Upstream Oil & Gas information asset development community Chevron project management Background/History Oil and gas professionals are faced with the day-to-day challenge...

... 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...