Petroleum Risk Analysis Software specifically designed for modeling uncertainty in your individual well decision analyses.
ARIES DecisionSuite™ software is the ARIES™ extension specifically designed for stochastically modeling uncertainty in your individual well decision analyses. Workflows enabled by DecisionSuite software allow users to move beyond the risking, expected value and sensitivity capabilities of ARIES software to include graphical decision-tree analysis and full uncertainty simulation using Crystal Ball.
In the Decision Tree module, you draw the tree containing the alternative outcomes on the screen. You then create economic cases, or enter a value directly, for each terminal node on your tree. ARIES software then runs all the cases, weights each outcome with the appropriate input probability and computes the highest expected value path through the chance and decision nodes of your model.
In the Simulation module, you enter global and case data, designate the uncertain variables and their probability distributions, and select the output metrics. ARIES software automatically samples the input distributions for each input value and constructs and runs the cases using Monte Carlo simulation.
Note: DecisionSuite currently supports Crystal Ball™ Standard Edition or better, versions 7.2 through 7.3.
Routinely used by:
• High-risk capital investment decisions
• Reservoir engineers
• Engineering technicians
Typically used for:
• Booking of U.S. reserves
• Investigating range of outcomes
• Other advanced economic risk analysis