Economic Risk in Hydrocarbon Exploration [Hardcover]

Ian Lerche (Author), John A. MacKay (Author)

Book Description

ISBN-10: 0124441653 | ISBN-13: 978-0124441651 | Publication Date: January 18, 1999 | Edition: 1

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.

Key Features
* 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

Editorial Reviews

From the Back Cover

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 quantitiatively approach economic risk. Detailed assumptions and models of economic risk are thoroughly compared. Numerical examples are given throughout to facilitate hands-on calculations using popular spreadsheet packages on personal computers.

About the Author

C. Ian Lerche is the author of more than 500 papers and has received numerous awards, including the Levorsen Award of the AAPG, the Nordic Professorship inPetroleum Geology, and the French Academie des Sciences Professorship in Geology. He has been a professor of geology in the Department of Geological Sciences at the University of South Carolina since 1984, and was associate chairman of the department 1985-1989. Between 1965-1981 he held positions of research associate, assistant professor, and associate professor at the University of Chicago. From 1981-1984 he worked as a senior scientist at Gulf Research and Development Co. He received a B.Sc. in physics in 1962 and a Ph.D. in astronomy in 1965 from the University of Manchester.

Product Details

• Hardcover: 404 pages
• Publisher: Academic Press; 1 edition (January 18, 1999)
• Language: English
• ISBN-10: 0124441653
• ISBN-13: 978-0124441651
• Product Dimensions: 9.1 x 5.9 x 1 inches
• Shipping Weight: 1.5 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,240,859 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

8 of 10 people found the following review helpful:

5.0 out of 5 stars Finally a modern approach, August 17, 2000

By 

"toddinoslo" (Oslo, Norway) - See all my reviews

This review is from: Economic Risk in Hydrocarbon Exploration (Hardcover)

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.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Economic Risk in Hydrocarbon Exploration by Ian Lerche, John A. MacKay, March 8, 2010

By 

Mrs. L. Parkinson (Aberdeen, Scotland, GB) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Economic Risk in Hydrocarbon Exploration (Hardcover)

Book reccommended for work and so far has lived up to expectations. The only down side is everybody at work wants to read it.