Volume Calculation
Volume Calculation
Volume Calculation
Mark Bentley
AGR TRACS Training
Calculating Stock Tank Oil Initially In Place (STOIIP)
Execute
Volumes step 2 – run process under utilities
Execute
Volumes step 3 – post-process in Excel
Execute
Important – understand the model (geology and stats)
Execute
Adjust property models to fit your PP interpretation
Execute
1. By using 2. By
the property adjusting
calculator, the
or .. geostats, or
..
3. By adjusting
the underlying
stats and re-
running the
geostats (the
best way)
Model-based uncertainty: 2 fundamental approaches
Deterministic
All inputs are specified; no
element of chance
Stochastic
Treated as synonymous with
‘probabilistic’; inputs have an
element of random selection
more
more
stochastic
deterministic
Chance
Best guess
Dice
Sensitivities
complexity
cases
Monte Carlo
Low-Mid-High
01/01/2005
01/01/2007
01/01/2009
01/01/2011
01/01/2013
01/01/2015
01/01/2017
01/01/2019
01/01/2021
01/01/2023
01/01/2025
01/01/2027
01/01/2029
01/01/2031
01/01/2033
Date
model
01/01/2035
01/01/2037
01/01/2039
scenarios
01/01/2041
realisations
01/01/2043
01/01/2045
Deterministic
01/01/2047
01/01/2049
Field Total Gross Gas Production rate Uncertainty
01/01/2051
Stochastic model
P90
P50
P10
01/01/2053
01/01/2055
01/01/2057
01/01/2059
01/01/2061
You choose
Different companies, different approaches
Best Guess
Anchored on a preferred ‘base case’
Canada in
general
Statoil
Exxon
BP
Total
BG Shell
IFP
Chevron TRACS
Crystal Ball
@RISK
GEOX
REP
Excel