... quality decisions. risk management project valuation unconventional resource economics type well distribution pilot program Pilot Effectiveness Energy Economics asset and portfolio management complex reservoir reserves evaluation information type well lognormal distribution machine...

...-parametric distribution will accurately represent the relevant uncertainties. We can then use the specific data from the Montney field to inform the assessment of the distribution parameters. In this work, we will demonstrate a Bayesian approach using both normal and lognormal distributions...

... estimations for each basin under evaluation were derived from data known for that specific area or from established plays, such as Fort Worth Barnett. Lognormal distributions were defined to capture the upside and downside volumes. Similar estimations were implemented for recovery factor with an associated...

... (Capen, Clapp and Campbell, 1971) experienced in competitive bidding and how it affects bid optimization. portfolio optimization information true value Artificial Intelligence Upstream Oil & Gas prospect lognormal distribution judgment machine learning Portfolio analysis assessment...

..., the additional proved reserves using probabilistic methods were significant. The uniform distribution resulted in the smallest increase, but still was 62% higher than estimate using deterministic method. The oft-used lognormal distribution yielded a 71% increase in the proved reserves. The uniform distribution...

... the probability dis- My purpose here is fourfold: (1) to show how to verify whether or not the Lognormal distribution pro- For convenience we shall call a hydrocarbon deposit a ''pool" or a "field", even though the terms differ in usage in that a new ''pool" can be found within an already discovered "field...