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K&M Technology Group - Probabilistic Cost Model



KM Technology Probabilistic Cost Model

Complex Well Probability Cost Model (PCM) - Designed specifically for use in extended reach and deep water extended reach field developments; the power of this system is second-to-none when it comes to changing field development scenarios on the fly.

The PCM has a built-in 3D well planning tool to model well paths from a single fixed location, from multiple surface locations or a combination of both.

The database is structured such that the operator can easily change the order or number of wells in a program or change the operational sequence in a program to determine the sensitivity of project costs to these changes.

The operator has the choice of determining whether to analyze these costs via standard mathematical calculations or utilizing a Monte Carlo Simulation to determine probabilistic cost distributions for each scenario.

The operator also has the choice of inputting site specific weather trends into the model, which are then factored into determining weather related downtime into the cost of the project.

Learnings, from either previous drilling projects or in the progression of the subject program can also be input to assess their effect on the project cost.

The flexibility of PCM allows small localized projects or complex global projects to be analyzed with relative ease and accuracy.

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K&M Technology Group ERD Course - June 2-6, 2008



More Upcoming Calendar Events


3-Day Complex Wells Course - July 15-17, 2008 3-Day Complex Wells Course - July 15-17, 2008 on 15-Jul-08
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K&M Technology Group ERD Course - July 21-25, 2008 K&M Technology Group ERD Course - July 21-25, 2008 on 21-Jul-08
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K&M Technology Group ERD Course - September 8-12, 2008 K&M Technology Group ERD Course - September 8-12, 2008 on 8-Sep-08
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