This exercise-based five-day course introduces the Decision Management System, integrating subsurface, surface and economic workflows while simultaneously mitigating risk. Topics covered by the instructor and reinforced through exercises include: • Fundamentals of uncertainty, risk and statistics • Uncertainty in Reserve Estimation using spreadsheet models • Optimization and Computer-assisted History Matching • Optimization under uncertainty using DMS with Nexus Simulation models • Economics-based optimization of well locations using DMS with Nexus simulation model

Engineers responsible for or wanting to learn about total asset evaluation

Familiarity with uncertainty and optimization and some experience with Nexus and Excel.

Lecture/Lab