Multi-Method Risk Analysis (MMRA) Software
Multi-Method Risk Analysis (MMRA) is LSi’s premium workhorse product for prospect and zone evaluation. MMRA comes in an easy-to-use Excel-based interface and is designed to construct probabilistic resource distributions from a variety of resource estimating methods via a powerful, proprietary Monte Carlo engine. Additionally, one can build the chance of geological success from chance factor estimates and incorporate multiple fiscal decision thresholds for truncated resources and chance of success.
MMRA provides broad flexibility to users for estimating methods, distribution shapes, correlations, extreme-end truncations, variable/resource units, and other simulation settings and allows customized corporate standards for these items.
First, select the method of resource investigation from a dashboard of options. For routine assessments, you can default to the Quick Look method (classic parametric multiplication of lognormal distributions) to get rapid resource distribution determination, complete with fiscal thresholds.
Where a more comprehensive modeling process is required, MMRA offers extensive flexibility and options including:
Area versus Depth (or Gross Rock Volume versus Depth) uses workstation-generated top reservoir (and base reservoir) area-depth pair values and definition of the primary “shaping” variable for irregularly shaped traps or fixed fluid contacts.
Scenario-based interpretations to explore multiple working hypotheses
Resource forecasts from Production profiles (Rate-Time option)
Within the Volumetric (Area and GRV) options, you have the ability to model complexity with down-dip trapping elements and observe the effect on estimated resources.
With the Area versus Depth method, describe irregularly shaped prospects and simulate the gross/net rock volume within the container. Assign the primary variable affecting uncertainty (productive area, hydrocarbon column, percent fill, rock volume, or fluid contacts) to accurately define the hydrocarbon accumulation.
Whatever estimating method is selected for modeling the prospect, standardized summary views and outputs facilitate comparison for more informed-decision making.
Built by geoscientists for geoscientists, MMRA will help to build consistency in probabilistic resource estimates across your organization.
Reach out to LSi to find out more about this valuable software tool and how MMRA will become a key component of your resource estimate forecasts. Or, ask for a trial evaluation to learn how simple it is to obtain sophisticated, reliable prospect characterization results.