Browsing by Subject "probabilistic analysis"
Now showing items 1-2 of 2
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(2017-05-02)This thesis proposes a Bayesian decline curve methodology, using Markov Chain Monte Carlo (MCMC) simulation and a novel empirical decline curve equation to better quantify uncertainty in estimated ultimate recovery (EUR) ...
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(2013-08-05)The feasibility and success of petroleum development projects depend to a large degree on well construction costs. Well construction cost estimates often contain high levels of uncertainty. In many cases, these costs have ...