1. A computer implemented method for determining a best well location from a plurality of possible well locations, the method comprising: drawing, using the computer, a plurality of earth models from a posterior distribution, wherein the posterior distribution is generated by stochastic inversion of existing geophysical, geochemical or geological data measured using a measuring device; calculating, by the computer, a well production at a plurality of proposed well locations within an earth model in the plurality of earth models using a relationship between the well production and earth parameters; calculating, by the computer, from the plurality of earth models, cost distributions using the relationship between well cost and the earth parameters; calculating, by the computer, probability weighted values for the proposed well locations using probabilities from location dependent stochastic inversions as weights; and determining, by the computer, a best well location among the plurality of possible well locations based on the calculated probability weighted values.