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Thursday, November 26, 2020 | History

5 edition of Geological risk and uncertainty in oil exploration found in the catalog.

Geological risk and uncertainty in oil exploration

  • 15 Want to read
  • 12 Currently reading

Published by Academic Press in San Diego, Calif .
Written in English

    Subjects:
  • Petroleum -- Prospecting -- Statistical methods.,
  • Petroleum reserves -- Forecasting -- Statistical methods.,
  • Risk assessment.

  • Edition Notes

    Includes bibliographical references and index.

    StatementIan Lerche.
    Classifications
    LC ClassificationsTN271.P4 L45 1997
    The Physical Object
    Paginationxvi, 658 p. :
    Number of Pages658
    ID Numbers
    Open LibraryOL664229M
    ISBN 100124441742
    LC Control Number97009787


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Geological risk and uncertainty in oil exploration by I. Lerche Download PDF EPUB FB2

Oil and gas explorationists, strategic resource economists, and petroleum professionals who deal with scientific uncertainty and risk issues will benefit from the book's systematic treatment of how to quantify the uncertainty associated with a variety of geological, geophysical, and geochemical by: Geological Risk and Uncertainty in Oil Exploration: Uncertainty, Risk and Strategy by Ian Lerche () [Ian Lerche] on *FREE* shipping on qualifying offers.

Geological Risk and Uncertainty in Oil Exploration: Uncertainty, Risk and Strategy by Ian Lerche ()Author: Ian Lerche. Exploration and production of hydrocarbons1 is a high-risk venture. Geological concepts are un- certain with respect to structure, reservoir seal, and hydrocarbon charge.

On the other hand, economic evaluations have uncertainties related to costs, probability of finding and producing economi-Cited by: Request PDF | On Apr 9,Kerimov and others published Risks and Uncertainties Analysis in Geological Exploration | Find, read and cite all the research you need on ResearchGate.

Risk and uncertainty are not synonymous (Megill, ; Rose, ). Risk connotes the threat of loss. Risk decisions weigh the level of investment against four considerations: net financial assets, chance of success/failure, potential gain, and potential loss.

James B. Ramsey, The economics of oil exploration-A probability of ruin approach, Energy Economics, January (). Peter R. Rose, Dealing with risk and uncertainty in exploration: How can we improve, American Association of Petroleum Geologists Bulletin, 71 (1), January ().

Journals & Books; Help Download full text in PDF Download. Advanced. Long Range Planning. Vol Issue 1, FebruaryPages Planning for risk and uncertainty in oil exploration. Author links open overlay panel J.G. Higgins. Show more.

Share. Cite. High levels of uncertainty are a trademark of geological investigations, such as the search for oil, diamonds, and uranium. So business ventures related to geology, such as mineral exploration and mining, are naturally associated with higher risks than more traditional entrepreneurial ventures in industry and economy.

Risk & Uncertainty In Hydrocarbon Exploration 23 August Searching for oil and gas is a risky business. Before you make a discovery the range of possible outcomes is pretty big, and the biggest issue is whether you’ll actually find any at all.

geological risk and uncertainty in oil exploration uncertainty risk and strategy Posted By Beatrix PotterMedia TEXT ID Online PDF Ebook Epub Library Geological Risk And Uncertainty In Oil Exploration Ian. Oil and gas explorationists, strategic resource economists, and petroleum professionals who deal with scientific uncertainty and risk issues will benefit from the books systematic treatment of how.

Geological risk and uncertainty in oil exploration by I. Lerche,Academic Press edition, in EnglishPages: Download Geological Risk And Uncertainty In Oil Exploration books, Oil exploration is a high-risk game. With worldwide drilling success of only 10% and a typical price tag of $15 million per well, it is no surprise the oil industry seeks better methods of managing financial risk.

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Geological Risk and Uncertainty in Oil Exploration: Uncertainty, Risk and Strategy by Lerche, Ian and a great selection of related books, art and collectibles available now at Malcolm Brown, President of the Geological Society will be giving a talk on the risk and uncertainty in the exploration of oil and gas.

He will cover the overall “chance of success”, considering the presence and effectiveness of the source, reservoir and trap, as well as “uncertainty” reflecting a range of sedimentological, engineering, economic and political influences.

The. The Challenge of Risk Assessment. The nature of exploration. Defining probabilities. Geological uncertainty and oil occurrence. Regional hydrocarbon endowment. Principal premises of this book. Field Size Distributions. Estimating "Q". Oil field populations.

Statistics of frequency distributions. Cumulative probability plots. Synopsis Oil exploration is a high-risk game. With worldwide drilling success of only 10 per cent and a typical price tag of USD15 million per well, it is no surprise the oil industry seeks better methods of managing financial risk.

Geological Risk and Uncertainty in Oil Exploration answers Author: I. Lerche. Home» Blog» Geological Risk Assessment 13th July The exploration and production of oil and natural gas requires high levels of capital expenditures and are subject to natural hazards and other uncertainties, including the physical attributes of oil and gas fields.

The fundamental requirements for the entrapment of oil and gas are the presence of a mature source rock, migration of those hydrocarbons from there into a trap, which contains an effective reservoir rock and an appropriate seal. There may be a difference of many millions of years in age of the source, reservoir and seal horizons and the timing of hydrocarbon migration and juxtaposition of.

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.

Oil and gas experts are involved in frequent testing to ensure that estimates of accessible reserves approximate actual values, but geological risk also includes challenges with extraction, cost containment issues and ensuring safe conditions as drilling has moved to less hospitable environments.

Uncertainty was elicited in three geological settings for which previous experiments had quantified the uncertainty (Lark et al., ; Randle et al., ). The first elicitation concerned the uncertainty in the position of the base of the London Clay Formation—a marine clay conformably deposited on lower units in a layer-cake stratigraphy.

Author: E. Dahlberg Publisher: Springer Science & Business Media ISBN: Size: MB Format: PDF, ePub, Mobi View: Get Books It has for some time been the author's opinion that the need exists for a complete, self-contained volume on hydrodynamics addressed to and written in an idiom for geologists and geophysicists actively engaged in the search for hydrocarbons.

Pdf Geological Risk And Uncertainty In Oil Exploration book description oil exploration is a high risk game with worldwide drilling success of only 10 and a typical price tag of 15 million per well it is no surprise the oil industry seeks better methods of geological risk and uncertainty in oil exploration uncertainty risk and strategy.

assessing uncertainty and risk, the simplification of the apparently complex to aid strategic choice and improving the exploration business process. Peter holds a degree in Geology from the University of Southampton. Mark C. Thurber is Associate Director for Research at the Program on Energy and Sustainable Development at Stanford University.

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Note that the probability scale may bewhile confidence on that factor is One can thus be very confident an area has a high geological risk (red), but one can also be very uncertain about an area, causing it to have large exploration risk (orange).

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Exploration methods. Visible surface features such as oil seeps, natural gas seeps, pockmarks (underwater craters caused by escaping gas) provide basic evidence of hydrocarbon generation (be it shallow or deep in the Earth).

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