UnRiskIT® Methodology

UnRiskIT® methodology adheres to the highest standards of probabilistic modeling.  Designed by petroleum engineers and customized for petroleum professionals, UnRiskIT®’s guided inputs and clearly understood results allow you to perform risk simulation in a consistent and proper manner.

Improve and standardize the well planning process.

Consistent risk assessment identifies primary causes of costly drilling problems.

Recognition of drilling problems helps focus engineering efforts.

Forecast risk and financial exposure.

Plan and prepare for sidetracking & other remediations.

Update scenarios while drilling to evaluate changes to the risk profile and forecasted time/cost estimates.

Event driven inputs assists in quality controlled data entry.

Import/Export: Risk Registers, Cost Catalogs, Production Data, Operational Events

Generates output that is compatible with WellView®.
Monte Carlo simulation and stochastic modeling.

Supports standard workflow and ranks prospects relative to cost and risk.

Performs multiple scenario comparisons.

Detailed sensitivity analysis & tornado diagrams.

Cost/benefit analysis Flexible production and cost options

Integrates with your cost and activity codes databases.

Model any operation: Directional Horizontal Vertical Sidetracks/Multilaterals Expandables Coiled Tubing Rotary Steerable Underbalanced Oil and/or Gas Coalbed Methane … and any other procedures
Quickly create risked authorization for expenditure (AFE) reports and financial charts and reports.

Generate probabilistic time and cost estimates to better understand scheduled risk and financial exposure.

Develop and apply a drilling program for the rig.

Custom & standard reports and charts: Histograms Frequency Charts Bar Charts Time/Cost Curves Cash Flow Charts Tornado Charts Composite Tornado Charts Differential Charts Summary & Detail Reports Trouble Ranking Report ...and more!
Compare and utilize historical data for future analysis.

Standardize the planning process throughout your organization.

Automate drilling program documentation, including an operational activity plan to benchmark rig activities and AFE-grade cost estimates.

Microsoft Office Compatible
(Utilizes Microsoft Office’s cut & paste feature for
quick and easy
import/export with Excel.)
Import/Export All Data

Network Capabilities

Database Links

WellView® Compatible

UnRiskIT® Registered Trademark 2018 - All Rights Reserved

Check out our other software:
Geosteering Software - GeoSteerIT by Petroleum Engineering Technology, LLC