The calculation of reserves, and an estimation of the uncertainty of that calculation, lie at the heart of hydrocarbon exploration and production. But REP is much more than “just another Monte-Carlo programme”. It has been designed and developed by explorationists and engineers to solve their problems – and these problems are not only in the calculations themselves. The results, and the means by which they are obtained, must be understood by colleagues and management, so that everyone can have confidence in the decisions that follow. Great care and thought has gone into the user interface, and the way the programme guides you through the estimation process. Equal consideration has been given to the presentation of results: REP routinely produces report quality output which can, without modification, be made into overheads or included in submission documents.
Validation, consistency and understanding are key issues for a company assessing reserves. REP has “reality” plots at both variable and results levels. Tornado and spider plots allow ranking of input variables by uncertainty. Assessing a prospect in a play setting is integral to the programme design.
Single accumulation volumetrics is at the heart of the programme. But commonly an exploration and development programme will include several prospects or fields in a single geological setting. The consolidation module within REP allows these groups to be properly assessed, and the relationships between them investigated.