MLchartDataset catalogue

Probability

Term · Oil and gas · MLC-T-OAG-002943

A numerical measure of the likelihood that an event will occur, expressed as a value between 0 and 1. In reservoir characterization, it quantifies the uncertainty associated with reservoir properties, such as the presence of hydrocarbons or the success of a drilling operation. Probabilistic methods are used to assess reserves and resources, often reported as P10, P50, and P90 values.

Table 1. Record
IdentifierMLC-T-OAG-002943
FieldOil and gas
SubjectReservoir Characterization
Record as JSON 
{
  "id": "MLC-T-OAG-002943",
  "term": "Probability",
  "field": "Oil and gas",
  "definition": "A numerical measure of the likelihood that an event will occur, expressed as a value between 0 and 1. In reservoir characterization, it quantifies the uncertainty associated with reservoir properties, such as the presence of hydrocarbons or the success of a drilling operation. Probabilistic methods are used to assess reserves and resources, often reported as P10, P50, and P90 values.",
  "subject": "Reservoir Characterization",
  "url": "https://mlchart.com/terminology/oil-and-gas/probability/"
}

Record 3,155 of 4,499 in Oil and gas terminology (MLC-0103). Request the full dataset.