Economic Risk in Hydrocarbon Exploration

Author: Ian Lerche, John MacKay
List Price: $150.00
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ISBN: 0124441653
Publisher: Academic Press (15 January, 1999)
Sales Rank: 366,561
Average Customer Rating: 5 out of 5

Customer Reviews

Rating: 5 out of 5
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.

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