We have been working with IHS to deliver a deeper understanding of Depth Conversion and how VelPAK 2016 can assist in the better evaluation of the size of your oil/gas prospects and to quantify the value of your reserves. We have put together the information in the form of a webinar, which will air via the IHS website on 22nd September 2016.
The content of the webinar looks into the volumetric uncertainty associated with the size of your oil/gas prospect and then we investigate some of the challenges associated with prospect evaluation, specifically in reference to depth conversion. We then cover a basic understanding of the seismic image, highlighting the importance of accurate Velocity Modelling, and how changes in your velocity model can significantly impact the size of your prospect.
We then pose the question “Do you always have to look at depth conversion?” and go over a few answers on the subject.
Next we cover several answers to the question “What is the minimum that should be looked into?” addressing whether there is a single way to do depth conversion. The webinar then moves to focus on the topic of uncertainty associated with depth conversion. We discuss how VelPAK 2016 calculates a constrained Monte Carlo Simulation series of separate models, based on the parameters of a best technical case model. We look at how these models may be summed together to give the range of total Gross Rock Volume (GRV) for the prospect, from the P10/P50/P90 models.
It can be noted that VelPAK enables you to determine which aspect(s) of your velocity model act as levers to the total GRV. The webinar concludes with a comparison between the depth conversion features available in Kingdom, and how VelPAK is packed full of features that enable you to create highly detailed velocity models, and accurately determine the size of your prospect and quantify the value of your reserves.