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Call option

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Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 29–30, 1993
Paper Number: SPE-25821-MS
... for understanding the prospect reserve size component of seismic option value is to note the relationship to an analog that has been exhaustively studied — financial options. The most basic financial option is the European call option, which represents the right, but not the obligation, to exchange cash...
Journal Articles
J Can Pet Technol 31 (05).
Paper Number: PETSOC-92-05-05
Published: 01 May 1992
... Options are specialized financial vehicles whose values are contingent upon those of other securities. The purchaser of a European call (or put) option obtains the right to buy (or sell) a specific asset, at a set price, on a predetermined date. American options can be exercised on or before the specified...
Proceedings Papers

Paper presented at the Canadian International Petroleum Conference, June 12–14, 2001
Paper Number: PETSOC-2001-066
... intelligence project value elaboration decision-making process rot asset and portfolio management governmental agency call option environmental study 1PAPER 2001- 066 Investment Timing and Environmental Assessmment Impact on Decision-Making Process in the Brazilian Petroleum Industry G.A.C. Lima...
Proceedings Papers

Paper presented at the Abu Dhabi International Petroleum Exhibition and Conference, November 5–8, 2006
Paper Number: SPE-101556-MS
... Abstract A revised Field Development Plan (FDP) for Betty Field was prepared based on a process that was simultaneously sensitive to reservoir and operational constraints and uncertainties. This so called "Optioneering" process was an iterative, multidisciplinary optimization task...
Proceedings Papers

Paper presented at the Latin American & Caribbean Petroleum Engineering Conference, April 15–18, 2007
Paper Number: SPE-108105-MS
...Figure 8 Sensitivity of sequential compound call options to CAPEX/bbl. ...
Proceedings Papers

Paper presented at the SPE Europec/EAGE Annual Conference and Exhibition, June 12–15, 2006
Paper Number: SPE-100373-MS
... Schwartz current value 4-fold compound option investment petroleum production compound option n-fold compound option real option compound call option multi-stage investment diffusion equation society of petroleum engineers Copyright 2006, Society of Petroleum Engineers This paper was prepared...
Journal Articles
J Can Pet Technol 38 (06).
Paper Number: PETSOC-99-06-05
Published: 01 June 1999
... is an integrated approach to risk and its effects on value. This paper will show that modem asset pricing (MAP) methods (sometimes called "option pricing" methods or "synthetic valuation" methods) can provide organizations with better tools for financial analysis, allowing more precise comparative analyses...
Proceedings Papers

Paper presented at the Annual Technical Meeting, June 9–11, 1996
Paper Number: PETSOC-96-46
... an integrated approach to risk and its effects on value. There has been speculation that modem asset pricing (MAP) methods (sometimes called "option pricing" methods or "synthetic valuation" methods) can provide organizations with better tools for financial analysis. Some managers believe (quite rightly...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, October 1–4, 2000
Paper Number: SPE-62968-MS
... of a project, so called real options, are considered. DTA also investigates different scenarios of a project. But in contrast to OPT the probability for the occurrence of a specific event has to be estimated. This is implicitly done when using OPT by calculating a so-called pseudo probability. A second major...
Proceedings Papers

Paper presented at the SPE Nigeria Annual International Conference and Exhibition, August 11–13, 2020
Paper Number: SPE-203753-MS
... price (strike price). Executing the trade at that specified price is mandatory for only one of the parties, while it's optional for the other party hence the name. Options can be a ‘call option’ which allows the option-holder to buy an instrument if desired, while a ‘put option’ allows to sell...
Proceedings Papers

Paper presented at the Latin American/Caribbean Gas & Electricity Congress, April 6–9, 1997
Paper Number: SPE-38209-MS
... of irreversibility with the consequent possibility of not performing the investment. A firm facing the possibility of investing, is actually placing itself in the role of the buyer of an "Option" similar to a "call". That is, it has the right, but not the obligation, to buy assets (financial, a thermal...
Journal Articles
J Can Pet Technol 41 (09).
Paper Number: PETSOC-02-09-03
Published: 01 September 2002
... Theory (ROT) enables managers to think of their investment decisions as the exercise of a financial call option; they have the right, but not the obligation, to buy an asset whose price fluctuates stochastically (project) at a chosen future time for a pre-specified price (investment). Thus, it is often...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, September 30–October 3, 2001
Paper Number: SPE-71409-MS
... (CONB) option yields a cash payoff if the asset value is above a threshold value at the end of the option period. A ladder option replicating the FO option payoff can be constructed by combining two CONB options. Using the parlance of the financial community, one buys a CONB call option having one...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, September 29–October 2, 2002
Paper Number: SPE-77587-MS
... and to reevaluate the project at a later date. Modeled as a call option on the project value, this option has two basic forces that drive its value: a. Time to expiration of the right to invest b. Value leakage of the project by not investing today The longer the time to expiration the more valuable...
Proceedings Papers

Paper presented at the Offshore Technology Conference, May 6–9, 2002
Paper Number: OTC-14205-MS
... the asset and the option will expire and lose its value. In this case the option holder is not obliged to buy if he will make a loss by doing so. Strike Price O pt io n Pa y- of f Stock Price Option Price Figure 1 Call Option Pay-off It is clear that the option has a value, since there is a chance to make...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, September 29–October 2, 2002
Paper Number: SPE-77737-MS
... in the near future rather than now. 2 PORTFOLIO SELECTION BASED ON OPTION TIMING Since the 1970s, financial markets have intensified the offering of contracts called puts and calls that give the owner the right but not the obligation to sell or buy a specified number of contracts or commodities at or before...
Proceedings Papers

Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, March 25–28, 2001
Paper Number: SPE-69595-MS
... (as with the stock price), and the capital investment decision has a time to expiration (i.e. time to expire the offshore license). Finally the cost of developing the hydrocarbon reserve is the so called strike price (ref 4). Table 1, provides some useful insight of the similarities of a financial and a real option...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, March 26–28, 1995
Paper Number: SPE-30062-MS
... or sell a futures contract at a specified price and time. The specified price is often called a strike price. P. 275 nymex price level upstream oil & gas swap price basic type financial integrity arithmetic average closing price producer contract futures otc market delivery option...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, September 30–October 3, 2001
Paper Number: SPE-71407-MS
... in general is subject to what I call the Optimal Exercise Problem, which differs in some key aspects from the other hypotheses mentioned and so is worth a detour before we return to purely organizational issues. The Optimal Exercise Problem Nearly every real option model (especially closed-form, off...

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