Production Curve Uncertainty: Analysis and Simulation of Type Wells with DTS

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Presented by

Rafael Hartke, CEO of Imagine Risks and Analytics

About this talk

This webinar will present a hands-on example of how to analyze historical production data and forecast future production of a portfolio, including the effect of uncertainty and noise in the data and in the model. We will use the tools provided by the DecisionTools Suite to: (i) Propose a type well model for the historical production data (ii) Estimate the model parameters using optimization (iii) Analyze the model results and residuals (iv) Build a forecast model for a production portfolio based on the type well model (v) Simulate the portfolio production curve using Monte Carlo simulation (vi) Analyze the simulation results and discuss how to best present them regarding the risks (threats and opportunities) of the portfolio

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