SYSTEMS AND METHODS FOR PLANNING WELL LOCATIONS WITH DYNAMIC PRODUCTION CRITERIA

A computer implemented method for planning a well location, the method comprising: defining, by a processing unit, coordinates for each well target in a plurality of well targets 5 subject to a well target constraint and one or more sets of property filters, wherein the one or more sets of property filters includes a pore volume property filter value assigned to each grid element in a three-dimensional grid representing a geological model; generating, by the processing unit, a subsurface well plan for the well location, by: connecting together well targets in the plurality of well targets that satisfy a subsurface well plan constraint, the 10 subsurface well plan constraint comprising a well type constraint or a drilling cost constraint; and discarding from the plurality of well targets at least one well target that does not satisfy the subsurface well plan constraint; generating, by the processing unit, profile data for the subsurface well plan; computing, by the processing unit, a well perforation based on the one or more sets of property filters; generating, by the processing unit, simulation data by 15 simulating production based on (i) the well perforation, (ii) the subsurface well plan, and (iii) the profile data; computing, by the processing unit, an objective function for the well location based on simulation data to generate a computed objective function wherein the objective function is usable to identify an optimal position of the well location based on an economic metric or a production metric; determining, by the processing unit, whether one or more 20 stopping criteria are met; and drilling a well at the well location.