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Fooled by Minimum Well Count?

Fooled by Minimum Well Count?

Presented by Randy Freeborn, Principal Industry Advisor, Aucerna

SPEE Monograph 3 provides guidance towards the minimum number of wells (sample size) required for a reliable type well. Missing from the guidance is an understanding that type well reliability depends on the number of sample wells and the number of wells that will be drilled using the type well. The talk will demonstrate how the guidance was determined, explore reasons why the sample wells may not represent the wells you plan to drill and pique your curiosity as to whether probability distribution might be a better confidence criterion than mean for confidence.

We draw two important conclusions:

  • SPEE guidelines tell the number of wells needed to reproduce the mean of a known probability distribution. This is not the same as having a reliable type well.
  • It is unlikely that a sample distribution will represent future wells.

What will you learn?

  • The wells you drilled probably won’t represent the wells you plan to drill.
  • SPEE recommended well count for type wells may not be suitable.
  • Mean is not a good choice for deciding minimum well count for type wells.
About the presenter
Randy Freeborn

Randy Freeborn

Principal Industry Advisor, Aucerna

Available recordings

Each recording contains the same content aside from the Q&A session specific to each region.
North America & Europe
Tuesday, April 21, 2020. 8:30 AM MDT | 9:30 AM CDT
Asia-Pacific
Wednesday, April 22, 2020. 10:30 AM AEST

About this webinar

This is a Recording from
  • April 21st (North America & Europe)
  • April 22nd (Asia-Pacific)
Presented by
Randy Freeborn, Principal Industry Advisor, Aucerna
duration

45 Minutes

description

SPEE Monograph 3’s recommended minimum number of wells is not what you think. Don’t be fooled by believing that if you have enough wells your type well will be reliable. Attend the webinar and be the first to understand type well reliability.

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