Models
A set of examples to illustrate a volumetric reserves calculation in the oil industry:
1. A deterministic model to get started.
2. A basic @RISK model where the output, a product of three uncertain quantities, is shown to be lognormally distributed.
3. A version that uses several potential distributions of uncertain inputs to compare their effects on the output distribution.
4. A version where the amount of methane is the product of five uncertain quantities.
5. This model is similar to other volumetric analyses in this series, but the context now is the Austin Chalk horizontal well, as reported in a Journal of Petroleum Technology article. There are now five uncertain inputs that are multiplied or divided to obtain the Reserves output.
