COMMENT: The importance of dependencies in multireservoir prospect evaluation

Editor's note: This article comments on "Dependent on dependence: Are economic calculations of expected hydrocarbon accumulations worthwhile?," by J.A. MacKay and Ian Lerche, OGJ, Nov. 7, 2011, p. 56. Timothy Nieman Decision Applications Inc. Saint Helena, Calif. In the opening paragraphs of the above article on dependencies between two reservoirs, the authors state that: "In particular, varying the allowed probability for the dependent reservoir is shown to not influence either the expected project value or the standard deviation around the expected value. The result is that the cumulative probability of obtaining a hydrocarbon reserve in excess of a fixed amount is also n...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected