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The results given by Risk€

After assessment of the input parameters required for well construction evaluation, the Risk€ analysis is performed using Monte Carlo simulation of all operations and associated undesirable events. Results are given as probability distributions and histograms, which gives a complete picture of the uncertainty related to the cost and duration of a drilling operation.

The main results provided are:
  • Curves representing the mean duration and the mean cost, obtained analytically from the input distributions versus the deterministic drill depth
  • Drill depth versus time curves.
  • The probability distribution for the total drilling cost and duration is given using a histogram, including summary statistics such as the maximum values, mean, and standard deviation.
  • The probabilities of performing the well construction within user defined cost and time limits.
  • Sensitivity analysis based on correlation coefficients
  • Sensitivity analysis based on cost and duration contribution
  • Cost breakdown
  • Comparison of different well design.
riske result
Figure 2: An example of a result window “Well summary”in Risk€
International Research Institute of Stavanger
Mailing address:
Visiting address:
P.O. Box 8046, N-4068 Stavanger, Norway
Prof. Olav Hanssensvei 15, 4021 Stavanger


Phone:
Fax:

+47 51 87 50 00
+47 51 87 52 00

General email address: firmapost@iris.no
International Research Institute of Stavanger
Mailing address:
Visiting address:
P.O. Box 8046, N-4068 Stavanger, Norway
Prof. Olav Hanssensvei 15, 4021 Stavanger


Phone:
Fax:

+47 51 87 50 00
+47 51 87 52 00

General email address: firmapost@iris.no
International Research Institute of Stavanger
Mailing address:



Visiting address:
P.O. Box 8046
N-4068 Stavanger
Norway

Prof. Olav Hanssensvei 15 
4021 Stavanger

 
Phone:
Fax:
General email:
+47 51 87 50 00
+47 51 87 52 00
firmapost@iris.no