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Keywords: true value
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Proceedings Papers
Uncertainty in Proved Reserves Estimates by Decline Curve Analysis
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-179992-MS
... Intelligence production forecasting asset and portfolio management reserves evaluation Reservoir Surveillance reserves classification cumulative production variance application Mmstb reserve estimate proved reserve estimate true value apiwatcharoenkul society of petroleum engineers Reserve...
Proceedings Papers
Uncertainty vs. Variability: What’s the Difference and Why is it Important?
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-169850-MS
... efficient communication and therefore timely progression of decisions. At its most simple, the distinction is as follows: Uncertainty refers to the unknown, single, true value of some quantity. The amount of uncertainty is quantified using a probability, which is assigned based upon the information...
Proceedings Papers
Inevitable Disappointment in Projects Selected Based on Forecasts
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
Paper presented at the Hydrocarbon Economics and Evaluation Symposium, April 1–3, 2007
Paper Number: SPE-107710-MS
... and portfolio management project selection IRR project management Upstream Oil & Gas calibration disappointment normal distribution selection criterion log-normal case society of petroleum engineers true value strategic planning and management hurdle value forecast capital budgeting...
Proceedings Papers
Optimizer's Curse: Removing the Effect of this Bias in Portfolio Planning
Available to PurchasePublisher: Society of Petroleum Engineers (SPE)
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 lognormal distribution judgment machine learning Portfolio analysis assessment...