Quantitative Methods · Decision Sciences

Bayesian Wildcat — Pozo Marisol-1

Encode a wildcat-well prior, price three pre-drill information options against EVPI/EVII, run three sequential Bayesian updates as seismic, mud-log, and wireline evidence arrive, and defend the posterior to a frequentist CFO. Petrolia Upstream universe, Cuenca de Tortuguero deepwater Caribbean.

4 rounds Executive English, Español
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Who it is for

An advanced simulation for participants used to working with the main frameworks and trade-offs of the subject, designed for executive education and experienced professionals.

How a session runs

  1. The instructor creates a session from the Eureka dashboard and invites the participants.
  2. Participants play 4 rounds. In each one they submit their decisions and the simulation calculates the results.
  3. The simulation can be run in English, Español.
  4. The instructor follows each participant's progress and results from the dashboard, and uses the class results for the debrief.

Decisions participants make

The decisions participants make during the simulation:

  • Pre-drill information decision
  • Drill or cancel
  • Working interest decision
  • Mid-well decision
  • Completion decision

Subjects covered

Designed for courses in Decision Sciences.

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