BRIEF - RISK ANALYSIS AND MONTE-CARLO SIMULATION APPLIED TO THE GENERATION OF DRILLING AFE ESTIMATES

Authors
PETERSON SK MURTHA JA SCHNEIDER FF
Citation
Sk. Peterson et al., BRIEF - RISK ANALYSIS AND MONTE-CARLO SIMULATION APPLIED TO THE GENERATION OF DRILLING AFE ESTIMATES, Journal of petroleum technology, 47(6), 1995, pp. 504-505
Citations number
NO
Categorie Soggetti
Energy & Fuels","Engineering, Chemical",Geology,"Engineering, Petroleum
Journal title
Journal of petroleum technology → ACNP
ISSN journal
01492136
Volume
47
Issue
6
Year of publication
1995
Pages
504 - 505
Database
ISI
SICI code
0149-2136(1995)47:6<504:B-RAAM>2.0.ZU;2-4
Abstract
This paper presents a method for developing an authorization-for-expen diture (AFE)-generating model and illustrates the technique with a spe cific offshore field development case study. The model combines Monte Carlo simulation and statistical analysis of historical drilling data to generate more accurate, risked, AFE estimates. In addition to the g eneral method, two examples of making AFE time estimates for North Sea wells with the presented techniques are given.