A Probabilistic Approach to Shale Gas Economics
Dallas, TX (PRWEB) April 6, 2007
Caesar Petroleum Systems, LLC participated in the presentation of a technical paper related to shale gas economics at the 2007 Society of Petroleum Engineers (SPE) Hydrocarbon Economics and Evaluation Symposium (HEES), being held in Dallas, Texas, April 1-3. The conference theme was titled "Unconventional Economics."
SPE Paper 108053, "A Probabilistic Approach to Shale Gas Economics," was co-authored by William M. Gray, SPE, Troy A. Hoefer, SPE, and Andrea Chiappe, SPE, all of Pioneer Natural Resources USA, Inc.; and Victor H. Koosh, SPE, chief executive officer of Caesar Petroleum Systems, LLC.
The authors addressed an industry trend toward unconventional resource plays, such as shale gas, coal bed methane, as well as other options, and the ways that software is used in the E & P sector to better serve decision-makers. The authors also shared results and lessons learned in the area of unconventional resource plays.
The paper cites evidence that unconventional resource plays represent a growing share of domestic natural gas production. These unconventional resource plays, and shale gas plays in particular, include higher commercial risk and uncertainty due to numerous factors, notably well production and reserves. "Our paper describes a consistent, systematic process em¬ployed in the evaluation of a number of shale gas plays; how PetroVR software from Caesar Systems and other applications were employed in the evaluation process; the importance of iterative modeling; and the vital role of multi-disciplinary participation in decision support," said Bill Gray, business development manager for Pioneer Natural Resources. "In a general sense, we believe the lessons learned here can be applied either to unconventional or conventional upstream oil and gas projects in the future," Gray said.
Caesar Systems was the lead Conference Sponsor for this year's SPE Hydrocarbon Economics and Evaluation Symposium, being held at the Intercontinental Dallas Hotel in Dallas, Texas. Caesar sponsored this conference as a continuation of its commitment to better decision support and decision-making on the frontiers of hydrocarbon E & P.
"Caesar's quest since the mid-1990s has been to assist hydrocarbon E & P decision-makers to effectively simulate and manage the strategic opportunity lifecycle--from exploration through operations to abandonment--encompassing the entire value chain. Supporting the Society of Petroleum Engineers and an event such as HEES is an important way for us to act on our commitment to improve collaboration and decision-making capabilities," said Victor Koosh, co-author of the technical paper and Caesar Systems CEO.
More About Caesar Systems
Headquartered in Houston,Texas, Caesar Systems serves the worldwide petroleum industry with integrated business simulation software tools, training, support and on-site consulting. Caesar Systems contributes extensive value to E & P leaders in the form of improved decision-making preparation and decision support as well as team collaboration, enhanced workflow and knowledge transfer.
Caesar Systems introduced its anchor product, Petroleum Ventures & Risk (PetroVR) in 1997. Over the past 10 years, PetroVR has been the market leading integrated evaluation platform among many leading exploration and production companies. Caesar Systems has attracted and retained an experienced team of E & P professionals to develop, market, implement and support the PetroVR tool suite for its clients throughout the world.
For more information about Caesar Systems or PetroVR software, visit the company's Web site at http://www.caesarsystems.com.