... field within the larger context of the larger corporate portfolio? A view of the corporate portfolio shows how oil and gas (O&G) assets come together to drive or diminish value. The E&P industry was originally structured in siloed multidisciplinary teams, and this has resulted in inherently...

... of subsurface risk and uncertainty linked with the quantification of potential hydrocarbon recoverable ranges, economic analysis across different fiscal regimes and stochastic portfolio optimization. The paper will then look at optimizing a sample set of exploration opportunities and examine the results...

... Abstract There are many ways to approach the valuation of an exploration portfolio. The most appropriate methodology will depend on the scale and complexity of the portfolio as well as time/resource constraints. An expected monetary value (EMV) approach based on success case discounted cash...

... Abstract It has been shown in the literature that the oil and gas industry deals with a substantial number of biases that impact project evaluation and portfolio performance. Previous studies concluded that properly estimating uncertainties will significantly impact the success of risk takers...

... exhaustibility of the resources, and the ever-increasing marginal cost of adding conventional resources into the company portfolio. The optimal extraction path of oil from the conventional and unconventional reservoirs is assessed and the long-term economic consequence of keeping the unconventional resource...

... Abstract This paper examines corporate economic and financial performance in the natural gas producing industry and assesses whether performance is a function of portfolio (types and location of gas supplies) or efficiencies in execution in capital spending and operations. This issue...

... Abstract It is becoming commonplace to consider uncertainty when making exploration and production investment decisions. Exploration and production companies typically have a portfolio of several active and potential projects, each with their own uncertainty. Companies can mitigate against risk...

... Abstract The process of portfolio optimization provides guidance to decision makers on how to manage an asset base given corporate objectives, market conditions, and organizational capability. Many applications in the oil and gas industry are based upon Markowitz’s efficient portfolio theory...

... Abstract This paper describes scenario generators and portfolio models for oil and gas exploration and production (E&P) planning. The problem is how to allocate funds to a set of oil recovery projects to achieve a desired tradeoff between risk and return. A mix of development...

... Abstract Methods to obtain optimal portfolios have been used extensively in the financial community for several decades. The first methods were published by Markowitz in the 50's and the literature has been vastly expanded since these days. Most discussions and publications to date have been...

... portfolio or a large number of reservoirs with lack of information. In some other cases, many reservoirs lack enough financial performance to justify information or data gathering. The latter represents a common barrier to identify appropriate investment opportunities in a particular or a portfolio...

... Proposal The main focus of most portfolio optimization tools in the E&P industry is to determine the efficient frontier by defining risk and return measures and then selecting one of the portfolios along the curve as the most appropriate portfolio for a given set of conditions...

... Abstract Linear Programming approaches to Portfolio Optimization require much effort to "teach the computer" the Petroleum Business. We must described to the optimization program the costs, potential rewards, and uncertainties of every investment opportunity. For an optimizer to generate...

... ABSTRACT Petroleum companies commonly use a "bottom up" approach for constructing and evaluating their petroleum portfolios, i.e. the "fill the data cube approach." Extensive information for each well is coded into the economic software including but not limited to rock and fluid properties...

...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...

... advanced modeling capabilities, iterative calculations and consolidated economics at a field or block level for appropriate accuracy. This process can be both computationally intensive and nonlinear in nature requiring a recalculation of each proposed portfolio including any delay and working interest...

... Abstract Using portfolio management and optimization techniques to allocate capital and select the best investment opportunities has been the subject of much discussion in recent papers and articles. However, there are still many practical problems associated with successful portfolio...

... In practice, mean-variance efficient portfolios have been found to be quite unstable: small changes in the estimated parameter inputs lead to large changes in the implied portfolio holdings. The practical implementation of the mean-variance efficient paradigm requires determination...

... Abstract Energy companies typically face asset investment decisions which must satisfy a number of constraints in the form of annual corporate goals and complex asset dependencies. The aim of portfolio optimization is to select a portfolio, which maximizes/minimizes one or more value or risk...

... Abstract This paper compares the results of carrying out portfolio analysis and optimization of a collection of exploration projects that have been modelled using both decision tree and stochastic simulation approaches. The collection of exploration projects comprises the opportunity set...