Computing risk for oil prospects : principles and programs /
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 mor...
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
| Published: |
Oxford :
Pergamon,
[1995]
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| Edition: | 1st ed. |
| Series: | Computer methods in the geosciences ;
14. |
| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| 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. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (xii, 452 pages) : illustrations, maps. |
| Bibliography: | Includes bibliographical references (pages 353-382) and index. |
| ISBN: | 008052950X 9780080529509 9780080418902 0080418902 1281071935 9781281071934 |