John R. Schuyler Consultant Aurora, Colo. Steven M. Hochanadel Tiorco Inc. Englewood, Colo. Defining some variables with a probability distribution can establish more precisely the economic value of such projects as polymer flooding in the Minnelusa formation. An enhanced-oil-recovery (EOR) project often presents a difficult investment decision. The substantial risks and performance uncertainties must be carefully weighted against the investment costs. A Monte Carlo simulation model was used to characterize the incremental economics of a Minnelusa polymer flood. The principal questions addressed were: ...

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