SYSTEM AND METHOD FOR DETERMINING A PROBABILITY OF WELL SUCCESS USING STOCHASTIC INVERSION

摘要

A system and a computer implemented method for determining a best well location from a plurality of possible well locations are described herein. The method includes drawing a plurality of earth models from a posterior distribution, wherein the posterior distribution is generated by stochastic inversion of existing data; calculating a well production at a plurality of proposed well locations within an earth model in the plurality of earth models using a relationship between the well production and earth parameters; calculating from the plurality of earth models, cost distributions using the relationship between well cost and the earth parameters; and calculating probability weighted values for the proposed well locations using probabilities from location dependent stochastic inversions as weights.