... machine learning Drillstem Testing drillstem/well testing test well perfect information Decision Entropy Theory society of petroleum engineers Bayesian Inference Upstream Oil & Gas small return-on-investment ratio information probability distribution unconventional play risk management...

... the various development decision paths with no additional information, with perfect information, and with imperfect information on the target uncertainties. The assessment of two of the three appraisal targets does not show enough information to change the original development plan. While the information...

... and management information decision key uncertainty upstream oil & gas evaluation perfect information artificial intelligence information alternative decision problem decision support system appraisal well location well location decision tree learning development decision development concept...

... Abstract In the petroleum industry, the decision to develop newly discovered hydrocarbon resources must be made under conditions of uncertainty; i.e., with less than perfect information available. However, both the degree of uncertainty and the economic consequences which are associated...