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Uncertainty Quantification and Calibration in Well Construction Cost EstimatesValdes Machado, Alejandro 16 December 2013 (has links)
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 been estimated using deterministic methods that do not reliably account for uncertainty, leading to biased estimates. The primary objective of this work was to improve the reliability of deterministic well construction cost estimates by incorporating probabilistic methods into the estimation process.
The method uses historical well cost estimates and actual well costs to develop probabilistic correction factors that can be applied to future well cost estimates. These factors can be applied to the entire well cost or to individual cost components. Application of the methodology to estimation of well construction costs for horizontal wells in a shale gas play resulted in well cost estimates that were well calibrated probabilistically. Overall, average estimated well cost using this methodology was significantly more accurate than average estimated well cost using deterministic methods. Systematic use of this methodology can provide for more accurate and efficient allocation of capital for drilling campaigns, which should have significant impacts on reservoir development and profitability.
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Oceňování nemovitostí typu letní tábor / Property valuation type of summer campŠťastný, Miroslav January 2013 (has links)
Diploma thesis “Property valuation type of summer camp” is focused on recording and valuation of all the immovable property, which are parts and outbuildings of summer camp near the Vranov dam. Theoretical part of this thesis deals with basic terminology and utilized valuation methods. Short locality characterization and relevant real estate market are described in the practical part. Main focus of the practical part is actual valuation of immovable property using methods described in theoretical part. After that, calculated and estimated prices are evaluated and analyzed.
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