Abstract: Systems and methods for stochastic modeling for drilling forecasts. One embodiment includes determining a plurality of potential well sites and a well attribute, determining available assets for drilling a well, and determining historical wells with a similar attribute. Some embodiments include using a stochastic process to estimate drilling costs and drilling times for drilling the well at each of the plurality of potential well sites, generating a predetermined number of drilling schedules for the plurality of potential well sites, and predicting a cost and time estimate for drilling of each well at the plurality of potential well sites for each of the predetermined number of drilling schedules. Some embodiments include determining a probability distribution of cost for implementing a subset of the predetermined number of drilling schedules for the predetermined time period and providing the probability distribution of cost for output prior to a start of the predetermined time period.

Abstract: Systems and methods of estimating well parameters are disclosed. In one embodiment, a method of estimating well parameters includes receiving a plurality of wells, each well defined by a plurality of well attributes, receiving a plurality of historic wells, each historic well of the plurality of historic wells defined by a plurality of historic well attributes, and comparing the plurality of well attributes of the plurality of wells with the plurality of historic well attributes of the plurality of historic wells. The method further includes selecting one or more matched historic wells based at least in part on a similarity between the plurality of well attributes for an individual well with the plurality of historic well attributes of the one or more matched historic wells, and calculating one or more well parameters based at least in part on the one or more matched historic wells.

Abstract: Systems and methods of estimating well parameters are disclosed. In one embodiment, a method of estimating well parameters includes receiving a plurality of wells, each well defined by a plurality of well attributes, receiving a plurality of historic wells, each historic well of the plurality of historic wells defined by a plurality of historic well attributes, and comparing the plurality of well attributes of the plurality of wells with the plurality of historic well attributes of the plurality of historic wells. The method further includes selecting one or more matched historic wells based at least in part on a similarity between the plurality of well attributes for an individual well with the plurality of historic well attributes of the one or more matched historic wells, and calculating one or more well parameters based at least in part on the one or more matched historic wells.

Abstract: Systems and methods of estimating well parameters are disclosed. In one embodiment, a method of estimating well parameters includes receiving a plurality of wells, each well defined by a plurality of well attributes, receiving a plurality of historic wells, each historic well of the plurality of historic wells defined by a plurality of historic well attributes, and comparing the plurality of well attributes of the plurality of wells with the plurality of historic well attributes of the plurality of historic wells. The method further includes selecting one or more matched historic wells based at least in part on a similarity between the plurality of well attributes for an individual well with the plurality of historic well attributes of the one or more matched historic wells, and calculating one or more well parameters based at least in part on the one or more matched historic wells.

Abstract: Systems and methods of estimating well parameters are disclosed. In one embodiment, a method of estimating well parameters includes receiving a plurality of wells, each well defined by a plurality of well attributes, receiving a plurality of historic wells, each historic well of the plurality of historic wells defined by a plurality of historic well attributes, and comparing the plurality of well attributes of the plurality of wells with the plurality of historic well attributes of the plurality of historic wells. The method further includes selecting one or more matched historic wells based at least in part on a similarity between the plurality of well attributes for an individual well with the plurality of historic well attributes of the one or more matched historic wells, and calculating one or more well parameters based at least in part on the one or more matched historic wells.

Abstract: Systems and methods for automatically generating drilling schedules are disclosed. According to one embodiment, a method of predicting rig movement between wells includes receiving historical well data regarding individual well types and historical rig data regarding individual rigs, and generating a Markov Chain model from the historical well data and the historical rig data. The Markov Chain model includes a plurality of states and a plurality of links between states. Each state of the plurality of states is a well class derived from the historical well data. Each link indicates a number of rigs that traveled between individual well classes. The method further includes determining, using the Markov Chain model, a probability of rigs moving between individual well classes, and predicting movement of individual rigs of a plurality of rigs between future wells based at least in part on the Markov Chain model.

Abstract: Systems and methods for economically evaluating multiple oil and gas field development scenarios are disclosed. In one embodiment, a method of evaluating oil field simulation scenarios includes receiving a computerized simulation scenario output for at least one oil field scenario, calculating, using one or more processors, a well count for the at least one oil field scenario, calculating, using the one or more processors, a net present value of the at least one oil field scenario, calculating, using the one or more processors, a cumulative production for the at least one oil field scenario, and displaying, in a graphical user interface, a three-dimensional plot of the at least one oil field scenario. A first axis of the three-dimensional plot is well count, a second axis of the three-dimensional plot is net present value, and a third axis of the three-dimensional plot is cumulative production.