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

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

Related topics:

More from this channel

Upcoming talks (15)
On-demand talks (211)
Subscribers (48390)
Palisade Company is the world’s leading provider of risk and decision analysis software solutions for science and industry. Our array of software products and custom services enhance the management experience by combining the latest in cutting-edge technology with over 35 years of analytics experience. Palisade’s unified software platform helps clients increase margins, improve performance, expand market share, and maximize operational efficiencies. We have a very simple mission: to minimize risk while maximizing potential.