The importance of properly characterizing undiscovered oil accumulation size distributions is demonstrated in the context of the recent US Geological Survey’s regional play assessment of the 1002 Area of the Arctic National Wildlife Refuge. The geologic and economic assessments are reviewed. The sensitivity analysis shows that parameters that affect the perceived undiscovered accumulation size distribution exert a dominant influence on estimates of economically recoverable oil.

Keywords:
assessment, bbo, 5th fractile estimate, fractile estimate, us government, field size distribution, wildlife refuge, undiscovered oil, economics, asset and portfolio management
Subjects:
Reservoir Characterization, Reserves Evaluation, Asset and Portfolio Management
Copyright 1999, Society of Petroleum Engineers
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