| Description |
1 online resource (xii, 452 pages) : illustrations, maps |
| Series |
Computer methods in the geosciences ; v. 14 |
|
Computer methods in the geosciences ; 14.
|
| Contents |
1. The Challenge of Risk Assessment -- 2. Field Size Distributions -- 3. Success, Sequence, and Gambler's Ruin -- 4. Estimating Discovery Size from Prospect Size -- 5. Outcome Probabilities and Success Ratios -- 6. Modeling Prospects -- 7. Mapping Properties and Uncertainties -- 8. Discriminating Discoveries and Dry Holes -- 9. Forecasting Cash Flow for a Prospect -- 10. The Worth of Money -- 11. RATs, Decision Tables, and Trees -- 12. Bringing It Together -- Appendix A -- Software Installation of Risk: Software to perform probabilistic assements and financial calculations in Computing Risk for Oil Prospects -- Appendix B -- Riskstat Manual: Linked Computer programs that perform statistical analyses in Risk -- Appendix C -- Riskmap Manual: Programs that perform the mapping function in Risk -- Appendix D -- Risktab Manual: Linked computer programs that perform financial calculations in Risk |
| Summary |
The petroleum industry is enduring difficult financial times because of the continuing depressed price of crude oil on the world market. This has caused major corporate restructuring and reductions in staff throughout the industry. Because oil exploration must now be done with fewer people under more difficult economic constraints, it is essential that the most effective and efficient procedures be used. Computing Risk for Oil Prospects describes how prospect risk assessment & mdash; predicting the distribution of financial gains or losses that may result from the drilling of an exploration well & mdash; can be done using objective procedures implemented on personal computers. The procedures include analyses of historical data, interpretation of geological and geophysical data, and financial calculations to yield a spectrum of the possible consequences of decisions. All aspects of petroleum risk assessment are covered, from evaluating regional resources, through delineating an individual prospect, to calculation of the financial consequences of alternative decisions and their possible results. The bottom lines are given both in terms of the probable volumes of oil that may be discovered and the expected monetary returns. Statistical procedures are linked with computer mapping and interpretation algorithms, which feed their results directly into routines for financial analysis. The programs in the included library of computer programs are tailored to fit seamlessly together, and are designed for ease and simplicity of operation. The authors contend that the explorationist who develops a prospect should be involved in every facet of its analysis, including risk and financial assessments. This book provides the tools necessary for these tasks |
| Analysis |
Prospecting Use of Computers |
| Bibliography |
Includes bibliographical references (pages 353-382) and index |
| Notes |
English |
|
Print version record |
| Subject |
Petroleum -- Prospecting -- Data processing
|
|
Risk assessment -- Data processing
|
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TECHNOLOGY & ENGINEERING -- Mining.
|
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Petroleum -- Prospecting -- Data processing
|
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Risk assessment -- Data processing
|
| Form |
Electronic book
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| Author |
Davis, John C.
|
|
Wendebourg, Johannes.
|
| ISBN |
008052950X |
|
9780080529509 |
|
9780080418902 |
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0080418902 |
|
1281071935 |
|
9781281071934 |
|
