Patent ID: 8190458
Filing Date: 2012-05-29
Classification: G06Q

Abstract:
1. A computer-implemented method of performing oilfield operations for an oilfield having a subterranean formation with an underground reservoir therein, the oilfield being provided with at least one wellsite with oilfield equipment for extracting fluid from the underground reservoir, comprising: performing an economic simulation of oilfield data using one or more processors to generate an oilfield revenue forecast comprising an oilfield production forecast, wherein at least a portion of the oilfield data is collected from the at least one wellsite; determining an economic production limit based on the oilfield revenue forecast, wherein the economic production limit comprises a projected date upon which revenue generated by the oilfield will be equal to or less than a total cost of the oilfield operations; characterizing the underground reservoir using at least one of a plurality of volume estimating techniques to generate reservoir information, the at least one of the plurality of volume estimating techniques comprising the oilfield production forecast and the economic production limit; generating output using the reservoir information; obtaining an archived oilfield revenue forecast for the wellsite; modifying input of the archived oilfield revenue forecast and performing a modified economic simulation having the modified input to generate a migrated oilfield revenue forecast; and comparing the migrated oilfield revenue forecast to the archived oilfield revenue forecast to isolate an effect of the modified input in the oilfield revenue forecast.