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 | | Economic Risk in Hydrocarbon Exploration by Ian Lerche, John A. MacKay ISBN-10: 9780124441651 ISBN-10: 0-12-444165-3 ISBN-13: 9780124441651 ISBN-13: 978-0-12-444165-1 Hardcover 1999-01-15 Academic Press Find Lowest Price |
Editorials | ||
Product 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. Key Features * Covers economic risk from exploration through production models * Brings methods to a level where all can be done on a PC * Analyzes numerical examples from the real world * Removes "mystery" from how economics is done * Addresses assumptions in models and shows how they influence projections | ||
Reviews | ||
Finally a modern approach This text provides a rich combination of theory, practical explanation, and numerical examples. You even get some computer code! Monte Carlo techniques are at the heart of any complex risk/uncertainty estimation procedure, and the authors have embraced this as an extension to the old tools of the past, that were basically limited by number crunching power. A bonus is the chapter on maximizing economic value of a discovery, which is really beyond the challenges of exploration risking, going into the development and operations phases. | ||