08:00–17:00 Monte Carlo Simulation for the Oil and Gas Industry
During this course, participants work directly with spreadsheet-based risk simulation software (either Crystal Ball or @Risk) to examine and modify prepared models and to create simple models of their own. Participants will also analyze historical data using histograms, cross plots, correlation in Excel, and software to fit probability distributions to data. Several worksheet models are included. The course covers software basics such as menus, settings, distributions, outputs, graphics, statistics, sensitivity, analysis, interpreting results, and creating reports.