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(5 days)
For: Engineers, managers and field personnel assessing results from and
planning/designing drilling and workover operations
Wells are drilled and worked
over to make money. Thus, deciding whether and how to drill and workover wells
leads to questions like:
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Did I really get the increase in value I had
anticipated?
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How can I be sure the outcome I got—good or bad—wasn’t just
luck—good or bad?
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If I did or didn't get the anticipated increase in value,
what particular steps in my operations were the likely causes?
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How should I
design my drilling and workover operations? In order to expect the highest
possible increase in value?
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In order to be as sure as possible the result will
be acceptable?
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What data do I have to help me answer those questions and decide
what to do?
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What data could I get and how much of it should I get to help me?
This course shows how you can use mathematical statistics to support your
decision making answers. Practical, not theoretical, applications of statistical
methods are evaluated in the real world of drilling and workover operations. The
course also covers how statistical methods can be misused; you learn how to
watch for statistical conclusions that may seem impressive, but are wrong. Each
treatment of a statistical method is immediately followed by instructional
applications. Students should have a hand held calculator that takes logarithms
and exponentiates.
Major Topics Covered:
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Basics
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Discrete Distributions
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The Normal Distribution and
its Variants
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Testing Statistical Hypotheses
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Scattergraphs and Common Sense
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Other Continuous Statistical
Distributions
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Goodness of Fit Tests
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Probability Plotting and Using
Order Statistics
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Value of Information and
Statistical Methods
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Validation of Models vs. the
Real World
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