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Keywords: Monte Carlo simulation
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Proceedings Papers

Paper presented at the SPE Latin America and Caribbean Petroleum Engineering Conference, May 17–19, 2017
Paper Number: SPE-185573-MS
... ]. reserves classification hybrid method Artificial Intelligence reserves evaluation Upstream Oil & Gas estimate reserve estimation production forecasting Monte Carlo simulation Reserve Estimation hybrid model block xyz volumetric method probabilistic approach probabilistic decline curve...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, November 18–20, 2015
Paper Number: SPE-177138-MS
... and investment efficiency is developed in appendix A No confidential information is published in this paper and data used are from public domain. asset and portfolio management Upstream Oil & Gas investment efficiency wsi value reservoir Project economics Monte Carlo simulation recoverable...
Proceedings Papers

Paper presented at the SPE Latin America and Caribbean Petroleum Engineering Conference, May 21–23, 2014
Paper Number: SPE-169471-MS
... and successful technique to generate reliable probabilistic GIIP outcomes using Monte Carlo simulation, minimizing the number of trails and ultimately reducing bias associanted with deterministic methodologies. A linear PROXY appropriately models the GIIP dependence on the uncertain factors for this sand...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, December 1–3, 2010
Paper Number: SPE-139357-MS
... in order to combine the material balance approach with Monte Carlo simulation, so as to address simultaneously to reservoir properties uncertainty and limited production records, instead of getting on with complex numerical simulation models. A small mature area in Talara Basin producing from Mogollón...
Proceedings Papers

Paper presented at the Latin American & Caribbean Petroleum Engineering Conference, April 15–18, 2007
Paper Number: SPE-108274-MS
.... Furthermore, the same approach should be applied to all projects since they will compete to the same budget. Reservoir Characterization reservoir simulation Monte Carlo simulation Artificial Intelligence Upstream Oil & Gas Simulation History simulation result Modeling & Simulation...
Proceedings Papers

Paper presented at the Latin American & Caribbean Petroleum Engineering Conference, April 15–18, 2007
Paper Number: SPE-107937-MS
... Algorithms and Monte Carlo simulation, to find an optimal decision rule for alternatives of investment regarding the development of an oil field under market uncertainty. The objective of this new model is to help decision-making in the following situation: immediate development of a field or wait until...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, June 20–23, 2005
Paper Number: SPE-94515-MS
... production logging water production oil productivity index monte carlo simulation production monitoring oil production oil zone pvt measurement bopd water treatment water zone society of petroleum engineers water conformance reduction productivity index probability fracture input parameter...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, April 27–30, 2003
Paper Number: SPE-81101-MS
... method can be used to narrow the range of uncertainties in gas reserves estimation in addition to Monte Carlo simulation. Introduction In 2001, Venezuela had proven oil reserves of 77.8 billion bbls and natural gas reserves of 148 TCF. Ninety one percent of the proven natural gas reserves were...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, March 25–28, 2001
Paper Number: SPE-69556-MS
... for the decision taking, the Present Net Value, Return Rate, etc. There are several statistical tools used for the processing of these variables, such as sensitivity analysis, probability analysis, decision tree, Monte Carlo simulations, options theory, CAPM Models (Capital Asset Pricing Model) etc. In all...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, March 25–28, 2001
Paper Number: SPE-69477-MS
... thepessimist and the optimist case, are simulated for each variable. As thisindependence is not perfect, two additional simulation runs may be required toadjust the width of the distribution. Having the probability distributions ofthe oil volume and of the recovery factor, Monte Carlo simulations are used...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, March 25–28, 2001
Paper Number: SPE-69614-MS
... evaluation program is merged with a risk analysis program to make stochastic simulations such as Monte Carlo. In this way distribution curves for especific outcomes (forecasts) will be obtained. reserves evaluation simulation probabilistic model artificial intelligence monte carlo simulation...
Proceedings Papers

Paper presented at the SPE Latin America/Caribbean Petroleum Engineering Conference, April 27–29, 1994
Paper Number: SPE-27036-MS
... analyses; the last one through Monte Carlo simulation. A microcomputer version of a surfactant flooding predictive model which included economic analysis was used for deterministic simulations. Input variables considered uncertain were ranked by means of a sensitivity analysis. Those having the greatest...

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