On the company executive level, the need exists for a forecasting approach less sensitive to individual exploration prospects and more sensitive to overall performance. To answer this need, a mathematical model for exploration efforts has been developed. This model calculates results required to obtain certain economic performance levels.

Keywords:
cost escalation, project valuation, reserve base, reserve addition, modeling & simulation, escalation, spe 11298, cash flow, progression, upstream oil & gas
Subjects:
Well & Reservoir Surveillance and Monitoring, Asset and Portfolio Management, Project economics/valuation
Copyright 1983, American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.
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