Ian Lerche, John A. MacKay Economic Risk in Hydrocarbon Exploration

Annotation

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. 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