Figure 4. Expected Value vs Stochastic Descriptions

Figure 4 shows 2 different line graphs of Product Data Gross Oil Production. On graph is Expected Value and the other is Monte Carlo both plotted against probability.

Figure 4 provides an example of the insight that can be gained from including full stochastics in project descriptions, focusing on a single metric (oil production) as derived from multiple input variables (initial rate, decline rate, hyperbolic exponent).

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