Rose Associates is about to release a new version of its flagship Multi-Mode Risk and Reserve Analysis Program (MMRA). MMRA V 4.0 uses Monte Carlo simulation to model input variables with multiple distribution types, providing a ‘fully-stochastic’ analysis of a prospect’s potential.
New features include mutually-exclusive scenario amalgamation and coal bed methane resource assessment. Complex trap modeling lets users track evaluations throughout the prospect lifecycle, as information changes during a study.
A new administration worksheet lets users choose from a variety of prospect evaluation settings where corporate standards, terminology and customizable lists can be set. The software can derive inputs from in-house database products for archival and performance tracking purposes.
MMRA has a hardwired link from Schlumberger/Merak’s PEEP to link E&P economics with prospect risk evaluation.
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