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Keywords: prospect
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Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179961-MS
... Abstract The paper discusses a novel workflow and tools for stochastic optimization under uncertainty aimed at maximizing the value of exploration and early appraisal assets using a public example of an East Africa offshore gas discovery. Following an initial discovery well, the prospect...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179951-MS
... to a few expected outcome cases which were passed to the commercial analyst for further evaluation ( Schulze et al. 2012 ). Consider an example with a simple exploration prospect. There is a 40% chance that it will be successful and if it is developed it will result in a net cash flow of $100M...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179974-MS
... resource economics frac stage correlation prospect cash flow History investigation Energy Economics Upstream Oil & Gas uncorrelated case uncertainty correlation cost uncertainty drilling program reduction type curve forecast unconventional play society of petroleum engineers Well...
Proceedings Papers

Paper presented at the SPE/IAEE Hydrocarbon Economics and Evaluation Symposium, May 17–18, 2016
Paper Number: SPE-179954-MS
... Based on this hypothetical portfolio of prospects, the product of such a volumetric assessment for the portfolio of prospects could be as shown in Table 1 . Table 1 Summary of Prospective Resources for hypothetical exploration portfolio Prospect Unrisked Prospective...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169848-MS
... of abandonment after drilling of the exploration and appraisal wells. Resources The simplest type of deterministic analysis of a prospect may include a single estimate of likely reservoir area, a volume of oil or gas per unit area, a recovery factor, and a POS. A single production forecast would...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169855-MS
... sections, defined prospects, wellpad drainage areas, or at the individual (delineation) well level. Predictive analytics techniques, in this case multi-variable linear regression, were used to construct the model. It was initially based on thermal recovery theoretical models for the SAGD process...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169823-MS
... stage of exploration, and the eventual phases of appraisal, development and production offshore Uruguay. The technical and economic evaluation applied to a portfolio of offshore prospects models the level of expenditures and investment from exploration to production. The assessment of the potential...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169878-MS
... for the Chinarevskoye field. strategic planning and management Upstream Oil & Gas asset and portfolio management structural geology prospect development case base development case appraisal activity appraisal work total production Reservoir Characterization Chinarevskoye field producer production...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162903-MS
... reference recovery assessment strategic planning and management upstream oil & gas development well artificial intelligence information recovery development plan earth model perfect information probability reliability reservoir characterization spe 162903 prospect reference case...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, September 24–25, 2012
Paper Number: SPE-162883-MS
... prospect decision tree analysis ooip end node correlation hydrocarbon Introduction A brief search on the term "stochastic reservoir modeling" in the SPE OnePetro database yields over 3,500 papers and articles. The first papers appear in the late 1950's and 1960's and the numbers have increased...
Proceedings Papers

Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107852-MS
... (Capen, Clapp and Campbell, 1971) experienced in competitive bidding and how it affects bid optimization. portfolio optimization information true value Artificial Intelligence Upstream Oil & Gas prospect machine learning Portfolio analysis assessment judgment disappointment...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 3–5, 2005
Paper Number: SPE-94586-MS
... variance rav strategic planning and management owi working interest risk tolerance country risk chance factor art rev evaluation portfolio optimization farminee pvf value uncertainty prospect evaluation parameter Introduction Decision-making theory states that when choosing between...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82010-MS
... project originator contribution typecase selection significant amount multi-scenario economics threshold spe 82010 portfolio optimization portfolio prospect metric asset and portfolio management upstream oil & gas economics portfolio manager portfolio analysis capital allocation...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82016-MS
... angolan psc probability regime equatorial guinean psc prospect reserves evaluation government mechanism project valuation reservoir simulation contractor cumulative probability threshold scenario Introduction In the engineering section the potential development scenarios are modeled...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 5–8, 2003
Paper Number: SPE-82017-MS
... of exploration prospects and others have worked with portfolio evaluation, adapting financial modern portfolio theory to oil and gas projects. Information that is now available for many areas having high-quality and high-resolution 3-D data necessitates new approaches to geologic risk because...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 2–3, 2001
Paper Number: SPE-68594-MS
... Abstract This case history describes the creation of a spreadsheet-based, Monte-Carlo economic model for exploration prospects. Looking at "probabilistic economics" instead of "probabilistic reserves" allows decision-makers a better understanding of the potential outcomes associated...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52977-MS
... Abstract This paper describes an approach for simulating and appropriately valuing complex E&P projects containing multiple prospects. The approach uses a Monte Carlo simulation model, which is described, that simulates a play containing multiple prospects. The play evaluated can consist...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52975-MS
... Abstract Traditionally, deterministic evaluation of geologic prospects has been used to assess their economic potential. In this paper, a probabilistic method (Monte Carlo Simulation) is described for evaluation of an offshore prospect in the Former Soviet Union. In this technique, both...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52948-MS
... developable area economics and resource uncertainty fractile united states government attanasi and schuenemeyer spe 52948 discovery north america government assessor prospect arctic national wildlife refuge increment Introduction Undiscovered oil estimates are commonly presented as volumes...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 21–23, 1999
Paper Number: SPE-52970-MS
... of petroleum engineers information excellence effective technology ikxgp upstream oil & gas amoco prospect probability exploration impact prospect quality team eqnngevgf risk rgt petroleum engineer asset and portfolio management techn accuracy measuring society rffxuulqj seismic...

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