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Time value of money

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Journal Articles
SPE Drill & Compl 20 (03): 179–186.
Paper Number: SPE-84839-PA
Published: 01 September 2005
... cement and bond evaluation The Value of Cement Innovation: Reduced Cycle Time Saves Money Roger Myers, SPE, David J. Mack,* SPE, Daniel Kendrick, SPE, George Woo, SPE, BJ Services Co.; David Matz, SPE, Dynatec Corp.; and Derek Hina SPE, Equitable Production Co. Summary Lightweight, low-compressive...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, April 2–3, 2001
Paper Number: SPE-68595-MS
... virtually untouched by the higher discount rate. First principles tell us that discount rates measure time value of money, not risks. Some analysts do FMV determinations failing to recognize the effects of competition. The identification and ramifications of the Winner's Curse enlighten us that a winning...
Proceedings Papers

Paper presented at the Oil and Gas Economics, Finance and Management Conference, June 8–9, 1994
Paper Number: SPE-28192-MS
... of a discount rate to adjust for the time value of money, and (4) some techniques to reflect the market price of risk. The most common approach to DCF analysis uses the Capital Asset Pricing Model (CAPM) to measure the market price of risk in the form of a risk premium to be added to the time value of money...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, October 4–7, 1992
Paper Number: SPE-24650-MS
... then in vogue failed to account properly for the time value of money. This was also the era of the desk calculator and slide rule. Simplification of the reservoir calculations was a desirable part of what was a laborious manual calculation process. What we did quite simply was to borrow time value of money...
Proceedings Papers

Paper presented at the SPE Hydrocarbon Economics and Evaluation Symposium, May 19–20, 2014
Paper Number: SPE-169875-MS
... receive in projects governed by fiscal arrangements such as Production Sharing Contracts (" PSCs "); b) ignores abandonment costs and income tax liabilities, even though these are real and often material cash outflows; and c) appears to ignore the time value of money. These shortcomings can cause the PRMS...
Journal Articles
J Pet Technol 51 (10): 44–49.
Paper Number: SPE-57894-JPT
Published: 01 October 1999
... they incorporate the time value of money; and whether they allow for managerial flexibility. We show that, despite their obvious differences, they are in fact different facets of a general project-evaluation framework that has the static base-case scenario as its simplest form. Compromises have to be made when...
Journal Articles
J Pet Technol 52 (02): 56–61.
Paper Number: SPE-60223-JPT
Published: 01 February 2000
... of valuation consists of an annual forecast of oil and gas production volumes times a prediction of prices less an estimate of operating costs. After other, but minor, adjustments, this future cash flow is discounted for both time value of money and the perceived probability of achieving exactly the predicted...
Proceedings Papers

Paper presented at the Middle East Oil Show, June 9–12, 2003
Paper Number: SPE-81548-MS
... actual and financial impacts will give a clearer picture as to the outcome a project will achieve. The calculations are not dependent upon predicting future oil prices or assigning a time value to money. Conventional economic measurements (net present value (NPV), internal rate of return (IRR...
Proceedings Papers

Paper presented at the SPE Annual Technical Conference and Exhibition, October 8–11, 1989
Paper Number: SPE-19710-MS
... as the cost of its components. Time Value of Money When combining both capital and power costs, the time value of money must be considered. Figure 1 is a time line showing when each cost is incurred over the expected life of an ESP system. The capital cost (initial investment) occurs at time equal to zero...
Journal Articles
SPE Comp App 6 (03): 19–23.
Paper Number: SPE-26243-PA
Published: 01 May 1994
... payout indicates the liquidity of a project, it does not incorporate the time value of money or what happens after payout. Performing economic evaluations on the basis of payout of most likely expenditures and revenues can lead to optimistic expectations for low-risk workovers where costs exceed...
Journal Articles
J Pet Technol 67 (11): 71–73.
Paper Number: SPE-1115-0071-JPT
Published: 01 November 2015
... to measure financial performance or to make capital budgeting decisions. In addition to NPV, the metrics may include internal rate of return (IRR), real options analysis, or payback period. Among these, payback fails to account for the time value of money, IRR does not return a unique solution in cases where...
Journal Articles
J Pet Technol 39 (03): 263–271.
Paper Number: SPE-16449-PA
Published: 01 March 1987
... techniques in use today recognizes the time value of money, which isapplied by discounting future cash flows to present value at some particulardate. This gives meaning to the phrase "time is money." Purpose of Economic Analyses The purpose of an economic analysis is to determine the effect...
Journal Articles
J Pet Technol 24 (01): 90–100.
Paper Number: SPE-2994-PA
Published: 01 January 1972
... to know where you are, but also how you got there, and where you may be going! Historical Introduction The time value of money has long been recognized, and the search for improved profitability criteria has been continuous, but time-related profitability criteria did not gain wide acceptance in the oil...
Journal Articles
SPE Res Eval & Eng 23 (04): 1251–1264.
Paper Number: SPE-201245-PA
Published: 12 November 2020
... in simulation studies, particularly the concepts of time value of money and oil‐price sensitivity. This has led to a knowledge gap in identifying optimal drawdown procedure and fracture spacing from numerical models. This study proposes a framework that integrates petroleum economics with simulation results...
Journal Articles
J Pet Technol 18 (08): 924–928.
Paper Number: SPE-1432-PA
Published: 01 August 1966
..., mostly those which have been used by financiers for several centuries. Although many different yardsticks have been proposed and used, all the better ones recognize the time value of money, which payout and the profit-to-investment ratio ignore. The most widely accepted yardstick for profitability seems...
Proceedings Papers

Paper presented at the Abu Dhabi International Petroleum Exhibition & Conference, November 9–12, 2020
Paper Number: SPE-203067-MS
..., an investment income analysis model, not taking into account the time value of money, was derived for TSC oilfield development projects. The well density values corresponding to the maximum and zero governmentWs profit were defined as government economic reasonable well density and government economic limit...
Proceedings Papers

Paper presented at the SPE/AAPG/SEG Unconventional Resources Technology Conference, July 23–25, 2018
Paper Number: URTEC-2902818-MS
..., and because of the time value of money. Therefore, production analysis should answer the questions, "how much will this well produce?" and "how quickly?" complex reservoir Barnett shale gas hindcast prediction Artificial Intelligence transient flow Haynesville machine learning Upstream Oil...
Proceedings Papers

Paper presented at the SPE Nigeria Annual International Conference and Exhibition, August 5–7, 2014
Paper Number: SPE-172437-MS
... for a fixed interest rate and internal rate of return. Thus, establishing the value of the cash flow backs compared to the expenditures and the time value of money become trivially algebraic formulated using a discount rate compatible with the average rate of return on equity. Average rate of return...
Proceedings Papers

Paper presented at the SPE Eastern Regional Meeting, September 13–15, 2016
Paper Number: SPE-184075-MS
... economic margin (WC ec – WC ult ) is large, well spacing has little effect on the final recovery (when water cut becomes equal to WC ec ). Thus, well spacing could be designed for the same value of recovery by finding optimum number of wells for maximum return on investment using the time-value-of money...
Proceedings Papers

Paper presented at the SPE Eastern Regional Meeting, September 13–15, 2016
Paper Number: SPE-184045-MS
... stimulated reservoir volume (SRV) as possible, while taking advantage of time value of money. However, it must be far enough to minimize fracture interference (well to well interference and frac hits) and over-capitalization in a field development. Well spacing is impacted by many factors. The most important...

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