... to define the breakeven oil prices and the Minimum Economic Field Size (MEFS). Finally, the Net Present Value, the probability of geological success and the probability of development were considered to complete the expected monetary value and the probability of commercial success calculations. Many...

... artificial intelligence wellbore design upstream oil & gas completion drilling operation drilling time analysis significant reduction reservoir characterization risk management risk hazard mitigation strategy drilling day probability operational practice proactive risk assessment strategy...

... asset and portfolio management upstream oil & gas module workflow estimation recompletion opportunity bopd thickness identification pay identification society of petroleum engineers net pay temporal neighborhood probability Introduction A field development plan (FDP) establishes...

... different understandings as words can have many meanings. However, if numbers are used instead of words, then as digits tend to have one literal meaning, using the 'language of probability' should better communicate the potential risks and uncertainties in developed petroleum projects, which employ...

... Artificial Intelligence optimization problem Upstream Oil & Gas rms computational time meira original set representative model production strategy rmfinder 2 original rmfinder individual probability risk curve society of petroleum engineers Scenario new risk curve probability...

... the original data. Then, a continuous distribution probability was used to characterize the uncertainties. These analyses were done using the statistical software R. Abstract The oil and gas industry is faced with uncertainty in many activities. Whereas in many of its areas, such as finance, geology...

... petrophysical and geomechanical properties. This ongoing case study identifies of the key properties for RQ, DQ, and CQ through correlation analysis and production validation. The methodology uses a systematic and quantitative probability calculation to determine the lateral landing score (LLS) for all depths...

... geologic modeling well logging Visualization envelope derivative Vsh forecast procedure envelope curve reference value clean sand workflow probability Introduction Lastly, we used this Vsh from envelope curves to build a 3D model, useful for analyzing sand bodies, connectivities, rock...

.... Upstream Oil & Gas geological modeling trend map facies porosity Reservoir Characterization depositional environment static model adjustment geologic modeling FCM information History Proportion depositional map global fraction fraction Depositional Model probability rock type...

... investment information Reservoir Development probability reservoir simulation simulation purpose completion porosity carbonate reservoir Modeling & Simulation field development facies relative permeability fracture permeability Drilling Introduction Pre-salt carbonate reservoirs...

... the probability of equipment failure and allowed us to identify improvement opportunities to strengthen our fixed equipment integrity. The RBI methodology implementation, has allowed Repsol Ecuador to optimize resources available for equipment maintenance because it prioritizes more critical equipment...

... values and so that processing time is reduced. As result of this workflow, quantified uncertainties are propagated into model and probability distributions for collapse and fracture mud weights are generated, and a mud weight window as a function of success probability for drilling without instability...

... and production forecast The final recovery estimated of reserves more probable (EUR) for the objective reservoir in the exploratory location 3EX is the following: San Cristóbal : 14.2 MSTB Upper Mogollón : 43.2 MSTB Lower Pariñas : 32.3 MSTB Total : 111.8 MSTB...

...) along with other known methods. The implications of data clusters distinguished by formation lithologies and rock mechanical strengths were revealed from a cross-plot analysis. The probabilities and uncertainties of the developed correlations were determined using the actual histograms from...

... uruguay prospect offshore uruguay injection well probability scenario sequence exploration contractor sub sea well system natural gas source rock Introduction There are 3 sedimentary basins offshore Uruguay: Punta del Este, Pelotas and Oriental del Plata basins. These basins comprise...

... of production of each alternative and determination of its range of typical behavior (4) Estimation of probability distributions of production for each variable, (5) Monte Carlo simulation for risk assessment of each alternative and selecting the best choice. The methodology was applied to evaluate management...

... of these methods is the use of differences between observed and simulated data to recalculate the probabilities distribution of uncertain parameters with the purpose of reducing reservoir uncertainties. The redistribution of occurrence probabilities is made with different formulas, representing the distinct four...

... probe fswd fishing day case 1 pumpout time fswl tool simulation log analysis rig time invasion time well logging flowchart assumption permeability fswl low case median case probability case 2 Introduction When new technology is introduced to the industry, it can be very...

... production network. In an example, 12 prospects are evaluated together. Each prospect is multi-zone with varying physical parameters, where each prospect has an equal probability of success. This procedure represents a holistic approach that incorporates technical drilling constraints, full-cycle...

... life cycle cost oil asset system effectiveness discovery evaluation thermal method expenditure scenario probability enhanced recovery operation information spe 139345 life cycle Introduction Heavy oils do not flow easily as they are characterized by high viscosities and high...