A Vital Secret for Building Better Type Wells Part II
There is no restriction to what is uncertain.
Part II of this series will focus on a second secret that relates to creating type wells that represent a specific cumulative probability or reserve category. This secret will not only help you reduce errors, but will also result in increased proved and proved plus probable reserves and prevent understating economic value. Building better type wells whitepaper.
Oil and gas companies with unconventional reserves and resources use a combination of detailed engineering and statistical type wells for creating production forecasts that underpin their important decisions around drilling and acquisition. Most evaluation tools use the time slice method for creating statistical type wells, but this method has some deficiencies that make its use a poor choice. As an alternative, we recommend the aggregation method. This paper will explain how both methods work, letting you decide which will lead to more well-informed decisions.