Development and application of a microcomputer Monte Carlo simulation model with Lotus 1-2-3

Journal Article · · SPE Computer Applications; (USA)

DOI:https://doi.org/10.2118/19318-PA· OSTI ID:6352620

Yu, J P; Zhuang, Z ^[1]; Watts, R J ^[2]

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1. West Virginia Univ., WV (US)
2. US DOE, Morgantown Energy Technology Center, Morgantown, WV (US)

A microcomputer Monte Carlo simulation model to perform economic evaluation of CO{sub 2} miscible flooding projects has been developed with Lotus 1-2-3. This study includes risk simulation using the Latin hypercube sampling technique. The risk-simulation model is completed on the spreadsheet, with keyboard macro enhancing the feasibility and application of this model. A risk-weighted discount cash flow (DCF) rate of return, profit/investment ratio, net present value, and payback periods were obtained. The risk-simulation model is user-friendly. It can perform statistical analysis and generate tables and graphs for result presentations with Lotus 1-2-3 macro enhancements. In addition, the model can be modified to suit any other specific field case applications--e.g., exploration and drilling.

• OSTI ID: 6352620
• Journal Information: SPE Computer Applications; (USA), Journal Name: SPE Computer Applications; (USA); ISSN SCAPE
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020300* -- Petroleum-- Drilling & Production
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290100 -- Energy Planning & Policy-- Energy Analysis & Modeling
99 GENERAL AND MISCELLANEOUS
990200 -- Mathematics & Computers
CARBON DIOXIDE INJECTION
COMPUTERIZED SIMULATION
COMPUTERS
DATA ANALYSIS
DRILLING
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
ENHANCED RECOVERY
EXPLORATION
FEASIBILITY STUDIES
FLUID INJECTION
FOSSIL FUELS
FUELS
HYPERCUBE COMPUTERS
INDUSTRY
INVESTMENT
MISCIBLE-PHASE DISPLACEMENT
MONTE CARLO METHOD
OIL WELLS
PETROLEUM
PETROLEUM INDUSTRY
RECOVERY
SIMULATION
WELL DRILLING
WELLS