Estimating Reserves and Success for a Prospect with Geologically Dependent Layers

SPE Reservoir Engineering (Society of Petroleum Engineers)

Volumn 11, Issue 1, 1996, Pages 37-42

  Murtha, J A ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

COMPUTER SIMULATION; COSTS; ESTIMATION; FINANCE; GEOLOGIC MODELS; GEOLOGY; MONTE CARLO METHODS; OFFSHORE OIL FIELDS; OIL WELL DRILLING; PROBABILITY;

CAPITAL INVESTMENT; DRILLING PROSPECT; OFFSHORE LOUISIANA PROSPECT; RESERVE DISTRIBUTION;

RESERVES TO PRODUCTION RATIO;

EID: 0030085449     PISSN: 08859248     EISSN: None     Source Type: Journal    
DOI: 10.2118/30040-PA     Document Type: Article

References (13)

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2. Gehman, H.M., Baker, R.A., and White, D.A.: "Assessment Methodology - an Industry Viewpoint," from Assessment of Undiscovered Oil and Gas, Proc., Seminar at Kuala Lumpur, Malaysia, 3-8 March 1980.
3. Megill, R.E.: An Introduction to Risk Analysis, second edition. Pennwell Books, Tulsa, 1984.
4. Rose, P.R.: "Chance of Success and Its Use in Petroleum Exploration," in The Business of Petroleum Exploration, R. Steinmetz (ed.), AAPG, Tulsa, 1992.
5. Hertz, D.B.: "Risk Analysis in Capital Investments," Harvard Business Review, Jan.-Feb. 1964, p. 95-106.
6. McCray, A.W.: Petroleum Evaluations and Economic Decisions, Prentice-Hall, Inc., Englewood Cliffs, NJ, 1975.
7. Murtha, J.A.: "Decisions Involving Uncertainty - An @RISK Tutorial for the Petroleum Industry," Houston, 1993.
8. Feller, William: An Introduction to Probability Theory and its Applications, V I, third edition. John Wiley, NY, 1968.
9. Murtha, J.A.: "Estimating Reserves and Success for a Prospect with Geologically Independent Layers," paper SPE 30040 presented at the 1995 Hydrocarbon Economics Evaluation Symposium, Dallas, 26-28 March.
10. Murtha, J.A.: "Incorporating Historical Data in Monte Carlo Simulation," paper SPE 26245 presented at the 1993 Petroleum Computer Conference, New Orleans, 11-14 July; SPECA, April 1994.
11. Crystal Ball Users Manual, Version 3.0, Decisioneering Inc. Denver, 1993.
12. Peterson, S.K., Murtha, J. A., and Schneider, F.F.: "Risk Analysis and Monte Carlo Simulation Applied to the Generation of Drilling AFE Estimates," paper SPE 26339, presented at the 68th Annual Technical Conference and Exhibition, Houston, 3-6 Oct. 1993.
13. Peterson, S.K., Murtha, J.A., and Roberts, R.W.: "Drilling Performance Predictions: Case Studies Illustrating the Use of Risk Analysis" paper IADC/SPE 29364 presented at the SPE/IADC Drilling Conference, Amsterdam, The Netherlands, 28 Feb.-02 March 1995.