Computing Risk for Oil Prospects: Principles and Programs
Computing Risk for Oil Prospects: Principles and Programs

Author: J.W. Harbaugh

Publisher: Elsevier

Published: 1995-11-22

Total Pages: 467

ISBN-13: 008052950X

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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 designed for ease and simplicity of operation. The two diskettes supplied are IBM compatible. Full information on loading is given in Appendix A - Software Installation. Risk I diskette contains data files and executables and Risk 2 diskette contains only executables. The authors contend that the explorationist who develops a prospect should be involved in every facet of its analysis, including risk and financial assessments. This book provides the tools necessary for these tasks.

Developments in Geophysical Exploration Methods—3
Developments in Geophysical Exploration Methods—3

Author: A.A. Fitch

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 317

ISBN-13: 9400973497

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One of the themes in current geophysical development is the bringing together of the results of observations made on the surface and those made in the subsurface. Several benefits result from this association. The detailed geological knowledge obtained in the subsurface can be extrapolated for short distances with more confidence when the geologi cal detail has been related to well-integrated subsurface and surface geophysical data. This is of value when assessing the characteristics of a partially developed petroleum reservoir. Interpretation of geophysical data is generally improved by the experience of seeing the surface and subsurface geophysical expression of a known geological configuration. On the theoretical side, the understanding of the geophysical processes themselves is furthered by the study of the phenomena in depth. As an example, the study of the progress of seismic wave trains downwards and upwards within the earth has proved most instructive. This set of original papers deals with some of the more vigorous developments in subsurface geophysics: and it is hoped that it will contribute to the understanding of geophysical phenomena in the solid. The editor thanks the busy workers in the several fields who have made time to produce these contributions.