One of the main uncertainties in any oil and gas evaluation is how many hydrocarbons will be produced and how much will they sell for?
The variables which compose this uncertainty include:
- Initial production rate
- Initial decline rate
- Hyperbolic 'b' variable
- Terminal decline rate
- Economic Limit
- Commodity market dynamics
All of these uncertainties are governed by different mechanisms, thus have different probability distributions that LOGES is able to identify and model, using various software packages.
