..., and by utilizing a comprehensive approach, an asset's true value can be measured for the company performing the evaluation. In this way, any one asset's value can differ from company to company. By building a comprehensive model which takes into consideration all present and future constraints and characteristics...

... analysis constraint debt covenant downside exposure society of petroleum engineers strategic issue uncertainty analysis Introduction Planning processes have not changed materially in the last 40 years. Our tools have changed, but the way we manage planning has not really evolved. In the 1970...

... . The quantity of unleased acreage cannot fall below the quantity of hold-outs, and it cannot exceed the total number of acres in the shale. These two constraints provide a bound on u : A ¯ − A = u ∈ [ A n , A ¯ ] The probability that a match is with a seller, not a hold...

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... total for analysis. The basic components include: Company Goals : Key metrics and targets for the company should be explicitly defined over the time horizon of interest. In addition, any constraints on certain company level metrics should be captured. Examples might include Debt ratio limits...

.... This analysis is then used to consider economics under cost, regulatory and fiscal regimes outside of North America. constraint single well economics economics Austin Chalk Energy Economics royalty tax regime fiscal regime unconventional well exploitation Upstream Oil & Gas regime...

... In the case of a thermal heavy oil project, the maximization of the NPV of the project is significantly more complicated and involved than that of a single oil or gas well on primary production due to the following: Capital intensive CPFs that set project level constraints on steam injection...

... in multi-fractured horizontal wells. This fracture efficiency factor may also be an important discriminator of performance between wells fractured using aqueous vs. non-aqueous fracturing fluids. We also show how to use meaningful constraints with a symmetry element model to ensure that the economic...

... such as dependencies between assets and facilities resource constraints. The third section looks at various portfolio management techniques to define the long-term corporate strategy and bridge it with short-term operational constraints to determine an optimized portfolio. The study concludes with specific...

.... reserve management planning process corporate planning doug macdonald upstream oil & gas society of petroleum engineers constraint reserves replacement asset and portfolio management reserve replacement ratio contingent resource replacement ratio spe 130158 information calculation...

... minimizing capital expenditure. The optimal portfolio choice given one constraint is typically not optimal given one of the competing constraints. This requires the portfolio manager to identify and select those portfolios that best meet all corporate constraints. Deciding which portfolio to develop is often...

... assessment optimization problem uncertain event information spe 130157 upstream oil & gas constraint possible outcome probability entropy quantification oil price risk management joint probability distribution joint probability Introduction Probability quantification has two main...

... investment variance utility function Upstream Oil & Gas optimal portfolio NPV ENPV probability portfolio deviation risk measure portfolio npv reservoir Portfolio analysis constraint tolerance efficient frontier risk tolerance negative npv spe 107708 Scenario Introduction...

... that production and capital constraints have on the portfolio optimization process. These constraints assist management in the setting of realistic company goals. The second application explains how acquisitions and divestures can be evaluated in the portfolio context, and the effect that those projects have...

... projects i and j A risk tolerance coefficient C, D general constraints CAP discounted capital CE certainty equivalent CF cash-flow DROI discounted return-on-investment EPV expected net present value f objective function Δ f i...

... decision makers an opportunity to test multiple strategies and to analyze the impact of competing goals and constraints in a more representative environment. The paper emphasizes that creation of this more complete, representative environment requires an integrated portfolio management approach combining...

... realistic, executable, investment programs, we must also encode constraints that define the strategic and geologic dependencies between investments, the timing flexibility that exists within and between each opportunity, the working interests that exist or can be negotiated, and their competition for scarce...

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...Portfolio Model Overview low price environment artificial intelligence asset and portfolio management op income capital portfolio optimization assumption pricing assumption portfolio analysis constraint decision maker probability reference portfolio portfolio selection upstream...

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