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Keywords: natural logarithmClose
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 11–12, 1991
Paper Number: SPE-22039-MS
... was that the estimate variance was 1 (based on natural logarithms). The estimate variance is a measure of how good, i.e., close to "truth", estimates are. The Appendix also cites evidence that assuming an estimate variance of 1 appears reasonable for wildcat oil and gas assets. One would ordinarily posit that oil...
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