Category: Oil & Gas

Topics relevant to the Oil & Gas industry

Downtime for Maintenance Simulation

Downtime, or non-productive time, commonly abbreviated as NPT, is usually used as a measure of time where there is no progress during drilling operations. However, I am using it here as a term to...

Simulating Oil Production with Monte Carlo

In this article I will build a basic oil production forecast simulation through Monte Carlo simulation, using R and Shiny. Introduction Imagine you would like to understand the effects of operational measures to an...