This book presents quantitative procedures for assessing predictions of potential oil recovery (basin size, hydrocarbon content), and economic impact (exploration cost, production, transport, and refining). Emphasis is placed on advances made in analytical methods and improved techniques developed during the last decade.


Oil exploration personnel in industry, graduate students in economic geology, and researchers in petroleum engineering.

Table of Contents

Economics and Reserves. Profit Measures. Probability Measures. Risk Measures. Basin Analysis. Analysis of an Exploration Project. Strategies for Bids and Acquisitions. Management Decisions. Epilogue. Chapter References. Index.


No. of pages:
© 1992
Academic Press
eBook ISBN:
Print ISBN:

About the author

Ian Lerche

C. Ian Lerche is the author of more than 500 papers and has received numerous awards, including the Levorsen Award of the AAPG, the Nordic Professorship inPetroleum Geology, and the French Academie des Sciences Professorship in Geology. He has been a professor of geology in the Department of Geological Sciences at the University of South Carolina since 1984, and was associate chairman of the department 1985–1989. Between 1965–1981 he held positions of research associate, assistant professor, and associate professor at the University of Chicago. From 1981–1984 he worked as a senior scientist at Gulf Research and Development Co. He received a B.Sc. in physics in 1962 and a Ph.D. in astronomy in 1965 from the University of Manchester.

Affiliations and Expertise

Dept. of Geological Sciences, University of South Carolina, Columbia, U.S.A.


@qu:"This book is a much needed addition to the available texts on this newly emerging subject. Dr. Lerche is very knowledgeable on the material and his background in both industry and academia allows him to address the needs of both groups." @source:--JAMES A. MACKAY, Texaco Exploration Research