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- W880040098 abstract "Economic evaluation of prospects is a common method to determine wells that will be included in drilling programs. Exploratory prospect evaluations require determination of many unknowns that have a range of possible values. When prospects are presented to management for review, analysis should address this range of outcomes. Financial analysis must address various outcomes, including large or small discoveries, dry holes or uneconomic production rates. This article reviews methods for determining risk and reserve distributions, and statistical occurrence of hydrocarbons. Various methods to determine chance factors and reserve distributions are discussed. Expected monetary value economic evaluation method and mean reserve size use are also covered. Applications of these concepts are presented." @default.
- W880040098 created "2016-06-24" @default.
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- W880040098 date "1994-09-01" @default.
- W880040098 modified "2023-09-23" @default.
- W880040098 title "Incorporating risk in exploration economics" @default.
- W880040098 hasPublicationYear "1994" @default.
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