.... As an appraisal programme progresses to the subsequent phase, an additional set of wells commences production and all appraisal wells that started production in a previous phase continue production. The simulated cumulative production is conditioned by the dependencies involving the cumulative production...

... and just proceed with development. And at $100+ million per well, deepwater appraisal is certainly not the place to be conducting science experiments. Subsurface experts are always hungry for more information, but this is not the realm of information for its own sake. Unless an appraisal well can affect...

.../appraisal wells, pilot programs, etc. – all are possible sources of data regarding the ultimate behavior of the reservoir. Unfortunately, all are possible wastes of money and manpower, too. Maximizing the probability of financial success in these plays requires a thorough, consistent value-of-information...

..." decisions, the proposed approach also incorporates previously described methodologies to frame and value information-gathering decisions 1 and expands them to address related project sanction decisions. One of which, valuing appraisal well placement, will be addressed specifically. Stating...