Reserve Estimation

  Create a Gas In Place (OGIP) distribution, determining the P10, P50 & P90 values using the following hints. Document your results in a 2 page report with key screen shots. Also upload your @Risk excel sheet. a. Use the HW3_OGIP.XLS spreadsheet which has two tabs: i. Welldata – this is the raw data from 25 wells in the same field. ii. VolumetricModel – this is where the calculations reside for that field. b. In the VolumetricModel tab, replace the Input Values for Depth, Thickness, GC, Density, PhiM, and Sw with distribution functions from @Risk. To obtain the distributions functions, go first to the WellData TAB. c. In the WellData tab, choose a distribution function -- for each of these inputs -- that you think adequately matches the data. Be careful of using functions that result in nonsensical values (i.e. negative thickness; use RiskTruncate).