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Keywords: npv
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Proceedings Papers
Valuation of Prospective Resources - A Portfolio Approach
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179954-MS
... Intelligence Upstream Oil & Gas prospective resource mean value iteration hydrocarbon economics probabilistic approach NPV probability exploration portfolio development cluster dependency Mmstb Introduction The Prospective Resource potential of exploration portfolios is commonly results...
Proceedings Papers
Impact of Geological and Facility Uncertainties on Strategic Drilling and Facility Decisions
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169878-MS
... Oil & Gas prospect development case production well production profile base development case Drilling structural geology base case npv Chinarevskoye field producer production case development case base case The company has therefore five "geological plays 1 ", each of which...
Proceedings Papers
Calibrating an Economic Limit Test to Maximize Net Present Value
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169875-MS
...One PRMS Definition of "Economic": based on NPV " The revenue and costs components of any term described above (including all other relevant economic and commercial terms) must be accounted for when deriving project NCF , even if they are defined differently by each entity (e.g., company...
Proceedings Papers
Integrated Economic Model for Evaluation and Optimization of Cyclic Steam Stimulation Projects
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169859-MS
... 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...
Proceedings Papers
Application of Design of Experiment Workflow to the Economic Evaluation of an Unconventional Resource Play
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169834-MS
..., for example, show that while a reduction in drilling and completion times may affect early production metrics, some other factors like production type curve have much more impact on the project's net present value (NPV) and Discounted Profitability Index (DPI). Upstream Oil & Gas quadratic model...
Proceedings Papers
The Value of Assessing Uncertainty in Oil and Gas Portfolio Optimization
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169836-MS
... to determine the impact of these biases on portfolio performance. The results show that disappointment in performance occurs not only because the net present value (NPV) of the realized portfolio is lower than estimated, but also because the risk of the realized portfolio is higher than estimated...
Proceedings Papers
The Relationship Between Operational Costs and Oil Prices: A Contribution for Probabilistic Economic Assessment
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169845-MS
... Abstract This article presents a probabilistic methodology for estimating the Net Present Value (NPV) of oil and gas production development projects. This methodology takes into account the uncertainties of important variables present in the economic evaluation, such as oil and gas production...
Proceedings Papers
A Stochastic Techno-Economic Model for Multi-Target Exploratory Prospects, Including Tax Implications of Purchase Price
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169848-MS
... discrete estimate(s) from the resulting resource distribution, prepare economic projections for these cases, and estimate a probability of success (POS) based on geoscientists’ judgment about various risk factors. The POS is multiplied times the discounted net present value (NPV) of the success case, while...
Proceedings Papers
Exploration Assets Evaluation: A Practical Way of Conforming Deterministic to Stochastic Mindsets
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162911-MS
... economics modelling. As illustrated by Delta prospect, discrepancies between resulting NPV approximations and true prospect NPV may be material. Since it may take another generation to break the wall between deterministic and stochastic ways of exploration project assessment, this paper suggests an interim...
Proceedings Papers
The Economic Folly of Chasing Schedules in Oil Developments and the Unintended Consequences of Such Strategies
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162878-MS
... achieved. Using performance data from the database, we can statistically quantify the change in expected outcomes (cost, production, reserves), and therefore the net present value (NPV) realized, as a result of different schedule targets. The results show that chasing aggressive first oil dates has...
Proceedings Papers
A Method for Integrating Response Surfaces into Optimization Models with Real Options: A Case Study in Gas Flooding
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-129566-MS
... to optimize the development of a gas flood. As a second step, the workflow is used to solve a value of information problem. initial configuration enhanced recovery gas injection method case study objective npv artificial intelligence asset and portfolio management configuration optimization...
Proceedings Papers
E&P Portfolio Optimization - How to Decrease Risk and Increase Return
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-130172-MS
... of petroleum engineers spe 130172 npv portfolio analysis frontier asset and portfolio management correlation upstream oil & gas project valuation project economics Introduction One of the most important ideas in finance, pioneered by Markowitz (1999) , is the efficient frontier, showing...
Proceedings Papers
Creating Efficient Portfolios that Match Competing Corporate Strategies
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-129259-MS
... easily be characterized by strategy and the tradeoffs between them can be assessed. procedure constraint application portfolio budget constraint npv portfolio optimization portfolio selection variance exploration portfolio npv target objective upstream oil & gas performance measure...
Proceedings Papers
Designing Efficient Fiscal Systems
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 8–9, 2010
Paper Number: SPE-130127-MS
... of a fiscal policy with the objective of optimizing the HG’s take while providing an acceptable contractor’s ROR. project economics npv exploration period contractor price scenario fiscal term calculation ncf asset and portfolio management taxable income agreement revenue upstream oil...
Proceedings Papers
Optimization of Cyclic Steam Stimulation Under Uncertainty
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107949-MS
... Injection Rate steam injection NPV optimizer thermal method optimization problem Simulation cumulative oil decision variable reservoir heavy oil injection Introduction Heavy Oil has recently become increasingly exploited resource due to the resurgence in oil prices and its relative...
Proceedings Papers
Constructing Oil Exploration and Development Project Portfolios Using Several Risk Measures—A Realistic Example
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107708-MS
... trajectories are generated using a mean reverting model. A complex income and tax calculation evaluates the net present value (NPV) of free cash flow, and a Monte Carlo simulation generates NPV scenarios for each project. We describe and compare optimization models that minimize several risk measures...
Proceedings Papers
Economics of GTL Technology for Gas Utilization
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107654-MS
...) and the net present value (NPV) is investigated to access the economic viability of GTL plants. The range of CAPEX utilized is based on the production of one barrel of hydrocarbon liquid per day (BLPD) whereas the OPEX are expressed as percentages of CAPEX. Also, a construction period of three years...
Proceedings Papers
Ring Fence Provisions - How Important Are They in Determining the Value of Petroleum Projects and Portfolios?
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94631-MS
... with no sliding scales in any of their tax or production sharing contract terms will almost always enhance the value of the portfolio. scenario income tax project economics npv asset and portfolio management portfolio optimization upstream oil & gas spe 94631 variation npv proper ring fence...
Proceedings Papers
An Integration of Real Options and Utility Theory for Evaluation and Strategic Decision-Making in Oil Development and Production Projects
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94665-MS
... and acquire the remaining 55.62% of the project. In general, results indicate that NPV tends to pay more attention on return and does not account properly for risk. Then, as the uncertainty (volatility) of strategic variables increase, the two models give more divergent results. project valuation...
Proceedings Papers
Impact of Intelligent Well Systems on Total Economics of Field Development
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94672-MS
... demonstrated the value of these completions with a high success rate that operators find attractive. In this paper, we present an economic evaluation procedure to quantify the benefit of Intelligent Well Systems based on net present value (NPV) calculations. Reducing well count and eliminating or reducing...
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