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Keywords: price model
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Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Asia Pacific Oil and Gas Conference and Exhibition, October 18–20, 2010
Paper Number: SPE-133044-MS
... support for modeling the variability and uncertainty in future prices. Models that are able to do this are termed stochastic price processes or probabilistic price models (probability being how we quantify uncertainty). The application of a time series of fixed or smoothly increasing hydrocarbon prices 1...