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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...
Long‐term design and planning of shale gas field development is challenging due to the complex development operations and a wide range of candidate locations. In this work, we focus on the multi‐period shale gas field development problem, where the shale gas field has multiple formations and each well can be developed from one of several alternative pads. The decisions in this problem involve the...
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