Patent ID: 8560476

Claim:
A computer-aided lean management (CALM) controller system for managing production actions in an oil and gas reservoir/field as its properties and conditions change with time with a view to increase profitability of the reservoir over its lifetime, wherein the oil and/or gas reservoir is characterized and represented as an electronic-field (“e-field”), the system comprising: a plurality of applications describing a multiplicity of dynamic and static e-field properties and conditions, each application having a workflow, wherein the plurality of application workflows are combined in a feedback loop between actions taken in the field and metrics that score the success or failure of those actions in the field; and a martingale controller that operates on the combination of the application workflows and continuously computes production strategies and physical actions on an oil and gas reservoir/field, wherein the martingale controller is configured to generate a best temporal action sequence for production in which a future-looking real option value representing one of the actions is used as at least one basis for determining the best action sequence thereby ensuring increased profitability of the reservoir over its lifetime.