• History Matching
• Uncertainty Quantification
• Production Optimization
• Well Placement Optimization
• Production Forecasting
• Reserves Estimation
• Development Planning
• Cycle Time Reduction
• Model Tuning
• Audit Trail

Make better field development choices
MEPO is often used for ranking the locations of infill wells, identifying locations which not only maximize additional production but also minimize risk.

The ability to generate a range of scenarios for production profiles based on alternative models reduces the risk of drilling an unproductive infill well, which is more likely to occur when only one predicted production profile is considered.

Basing your choice of infill well location on a single history match and production forecast can be dangerous. MEPO can help you understand the uncertainty range in the production forecast and make smarter decisions.

Do we see this in the real world?
Take a look at the figure below showing the range of possible production from the same development plan but using differently history matched models.

The range of possible outcomes is wide.

Are you drilling in areas that have a much higher risk than is apparent today?

Or are you perhaps missing out on developments that have potential?