Publication Cover
The Engineering Economist
A Journal Devoted to the Problems of Capital Investment
Volume 55, 2010 - Issue 4
310
Views
10
CrossRef citations to date
0
Altmetric
ARTICLES

Number of Development Wells: A Decision Under Uncertainty

Pages 328-349 | Published online: 25 Nov 2010

REFERENCES

  • Al-Harthy , M. , Kharuna , A. , Begg , S. and Bratvold , R. 2006 . Sequential and systems approaches for evaluating investment decisions: influence of functional dependencies and interactions . The Australian Petroleum Production and Exploration Association (APPEA) Journal , 46 : 7 – 11 . Part 1, May
  • Al-Harthy , M. 2007a . Stochastic oil price models: comparison and impact . The Engineering Economist , 52 ( 3 ) : 269 – 284 .
  • Al-Harthy , M. 2007b . Utility efficient frontier: an application in the oil and gas industry . Natural Resources Research , 16 ( 4 ) : 305 – 312 .
  • Behrenbruch , P. , Turner , G. and Backhouse , A. R. Probabilistic hydrocarbon reserves estimation: a novel Monte Carlo approach . Paper SPE 13982 presented at offshore Europe 10–13 September . Aberdeen, Scotland.
  • Bobar , A. 1985 . “ Reservoir engineering concepts on well spacing. Paper SPE 15338 ” . Available at http://www.spe.org (accessed 1 December, 2009)
  • Corrie , R. An analytical solution to estimate the optimum number of development wells to achieve maximum economical return . Paper SPE 71431 read at the SPE Annual Technical Conference and Exhibition, 30 September–3 October . New Orleans, LA.
  • Cunningham , P. 2004 . “ NPV formulas—a fast method for calculating and optimising NPV in screening studies ” . Available at http://www.omgem-ideas.com (accessed 1 December, 2009)
  • Daigre , R. , Wood , R. and Wiggins , G. Development of a well spacing program for the South Womack Hill Field, Clarke and Choctaw Counties, Alabama . Paper SPE 15530 read at the 61st Annual Technical Conference and Exhibition, 5–8 October . New Orleans, LA.
  • Dehn , B. and Stoy , T. Well spacing analysis by the discounted production method . Paper SPE 190 read at the Annual Fall Meeting of the Society of Petroleum Engineers of AIME, 8–11 October . Dallas, TX.
  • Goldberg , D. E. 1989 . Genetic Algorithms in Search, Optimization, and Machine Learning , Company, , USA : Addison-Wesley .
  • Lund , M. 2000 . Valuing flexibility in offshore petroleum projects . Annals of Operations Research , 99 : 325 – 349 .
  • Matthews , D. , Carter , J. and Dake , L. Investigation of optimum well spacing for North Sea Eocene reservoirs . Paper SPE 25030 read at the European Petroleum Conference, 16–18 November . Cannes, France.
  • Murtha , J. 2000 . Decisions Involving Uncertainty, An @Risk Tutorial for the Petroleum Industry , New York, , USA : Palisade Corporation .
  • Otis , R. and Schneidermann , N. 1997 . A process for evaluating exploration prospects . AAPG Bulletin , 81 ( 7 ) : 1087 – 1109 .
  • Palisade . 2008a . Guide to Using Risk Optimizer: Simulation Optimization for Microsoft Excel Version 5. Available at http://www.palisade.com (accessed 1 December, 2009)
  • Palisade . 2008b . @Risk, Risk Evolver and Risk Optimizer Available at http://www.Palisade.com (accessed 1 December, 2009)
  • Peterson , S. and Murtha , J. Risk analysis and Monte Carlo simulation applied to generation of drilling AFE estimates . Paper SPE 26339 read at the Technical Conference and Exhibition, 3–6 October . Houston, TX.
  • Spencer , J. and Morgan , D. Application of forecasting and uncertainty methods to production . Paper SPE 49092 read at the SPE Annual Technical Conference and Exhibition, 27–30 September . New Orleans, LA.
  • Tabatabaei , N. , Aleagaha , A. and Salari , S. Estimating optimum well spacing in a Middle East onshore oil field using a genetic algorithm-optimization approach . Paper SPE 105230 read at the 15th SPE Middle East Oil and Gas Show and Conference, 11–14 March . Bahrain.
  • Tokunaga , H. and Hise , B. A method to determine optimum well spacing . Paper SPE 1673 read at the Regional Meeting of the Society of Petroleum Engineers of AIME, 17–18 November . Santa Barbara, CA.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.