Computing Risk for Oil Prospects: Principles and Programs
：Principles and Programs
( Volume 14 )
Publication subTitle ：Principles and Programs
Publication series ：Volume 14
Author： Harbaugh J. W.;Davis J. C.;Wendebourg J.
Publisher： Elsevier Science
Publication year： 1995
E-ISBN: 9780080529509
P-ISBN(Paperback): 9780080418902
P-ISBN(Hardback): 9780080418902
Subject： P5 Geology
Language： ENG
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Description
The petroleum industry is enduring difficult financial times because of the continuing depressed price of crude oil on the world market. This has caused major corporate restructuring and reductions in staff throughout the industry. Because oil exploration must now be done with fewer people under more difficult economic constraints, it is essential that the most effective and efficient procedures be used. Computing Risk for Oil Prospects describes how prospect risk assessment — predicting the distribution of financial gains or losses that may result from the drilling of an exploration well — can be done using objective procedures implemented on personal computers. The procedures include analyses of historical data, interpretation of geological and geophysical data, and financial calculations to yield a spectrum of the possible consequences of decisions. All aspects of petroleum risk assessment are covered, from evaluating regional resources, through delineating an individual prospect, to calculation of the financial consequences of alternative decisions and their possible results. The bottom lines are given both in terms of the probable volumes of oil that may be discovered and the expected monetary returns. Statistical procedures are linked with computer mapping and interpretation algorithms, which feed their results directly into routines for financial analysis. The programs in the included library of computer programs are tailored to fit seamlessly together, and are
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