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| ECONOMIC RISK IN HYDROCARBON EXPLORATION
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To order this title, and for more information, click here
By
Ian Lerche, Dept. of Geological Sciences, University of South Carolina, Columbia, U.S.A.
John MacKay, Texaco, Houston, Texas, U.S.A.
Description
Economic Risk in Hydrocarbon Exploration provides a total framework for assessing the uncertainties associated with exploration
risk from beginning to end. Numerous examples with accompanying microcomputer algorithms illustrate how to quantitatively approach economic
risk. The text compares detailed assumptions and models of economic risk, and presents numerical examples throughout to facilitate hands-on
calculations using popular spread-sheet packages on personal computers.
Audience
Scientists, economists, and professionals concerned with exploiting the world's oil and gas resources; oil and gas company explorationists,
strategic resource economists, and academic and private research scientists involved in quantitative geology problems or who deal with
the economic risk associated with hydrocarbon exploration.
Contents
Preface. Introduction. Risk Adjusted Value (RAV) and Working Interest. Uncertainty and Probability Estimates for Risk Adjusted Values
and Working Interest. Portfolio Balancing and Risk Adjusted Values Under Constrained Budget Conditions. Similarity, Dependence and Correlation
for Risk Adjusted Values and Working Interest. Modifications to Risk Aversion in High Gain Situations. Corporate Funding Requests, Fixed
Budgets, and Cost Balancing. Maximizing Oil Field Profit in the Face of Uncertainty. The Value of Added Information: Categories of Worth.
Counting Successes, and Bidding Statistics Analyses. Economic Model Uncertainties. Bayesian Updating of an Opportunity. Options in Exploration
Risk Analysis. Appendix A: Numerical Methods and Spread Sheets. Epilogue: Summary. References.
| Bibliographic details |
Hardbound, 404 pages, publication date: JAN-1999
ISBN-13: 978-0-12-444165-1
ISBN-10: 0-12-444165-3
Imprint: ACADEMIC PRESS
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| Price and Ordering |
Price:
GBP 135.99
USD 225
EUR 160.95
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Last update: 4 Sep 2009
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