Abstract:In shale gas field development, the major endogenous uncertainty comes from the production profile of candidate wells and its realization is dependent on the development decision. In this work, we apply multistage stochastic programming to address the shale gas field development planning problem under production profile uncertainty. Business realities such as budget limit and uncertainty resolution delay are also considered in the proposed model. To solve the multistage stochastic model, a Lagrangean decomposi… Show more
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