Portfolio analysis of petroleum fields and prospects: a robust statistical method

2017 ◽  
Vol 57 (2) ◽  
pp. 572
Author(s):  
Aleksandar Vujovic ◽  
Ritu Gupta ◽  
Gregory C. Smith
Keyword(s):  
Portfolio Analysis ◽  
Petroleum Geology ◽  
Statistical Methodology ◽  
North West ◽  
The North ◽  
Robust Statistical Method ◽  
Petroleum Fields ◽  
Active Research ◽  
Active Research Program

Portfolio analysis of several prospects, fields or assets is an important part of economic analysis routinely done by most exploration, development and production companies, often for large dollar amounts. Yet the methods used have not changed for decades, most are done in complicated and difficult to audit spreadsheets, and commonly they are not statistically robust, meaning they sometimes give incorrect results. The Curtin University Petroleum Geology Group has an active research program working with the Curtin Statistical Group to improve assessment of petroleum volumetrics, risking, scenario and portfolio analysis. This note provides a simple case study of portfolio analysis using an area in the North West Shelf in which we have quickly mapped several leads, prospects and drilled traps. They span a range of risk outcomes from undrilled to drilled, of which some were dry and some were successful to varying degrees. The results allow us to demonstrate how to calculate and aggregate the volumes and dependencies for each structure, correctly add the results using a new statistical methodology and formulate the aggregated volumetric distribution for the portfolio. This workflow can be used for any portfolio in the petroleum and other industries.

Kerbside collection: A case study from the north-west of England

2007 ◽  
Vol 52 (2) ◽  
pp. 381-394 ◽  
Author(s):  
C.D.H. Wilson ◽  
I.D. Williams
Keyword(s):  
North West ◽  
The North

The use of high-resolution stratigraphy and derived lithoclasts to document structural inversion; a case study from the Paleogene, Isle of Wight, U.K.

2021 ◽  
pp. jgs2020-156
Author(s):  
Andy Gale
Keyword(s):  
The West ◽  
North West ◽  
Geologic Time ◽  
Northern Limb ◽  
The North ◽  
Basement Faults ◽  
Structural Inversion ◽  
Geologic Time Scale ◽  
Radiometric Ages

The effects of structural inversion, generated by the Pyrenean Orogeny on the southerly bounding faults of the Hampshire Basin (Needles and Sandown Faults) on Eocene sedimentation in the adjacent regions were studied in outcrops by sedimentary logging, dip records and the identification of lithoclasts reworked from the crests of anticlines generated during inversion. The duration and precise age of hiatuses associated with inversion was identified using bio- and magnetostratigraphy, in comparison with the Geologic Time Scale 2020. The succession on the northern limb of the Sandown Anticline (Whitecliff Bay) includes five hiatuses of varying durations which together formed a progressive unconformity developed during the Lutetian to Priabonian interval (35-47Ma). Syn-inversion deposits thicken southwards towards the southern margin of the Hampshire Basin and are erosionally truncated by unconformities. The effects of each pulse of inversion are recorded by successively shallower dips and the age and nature of clasts reworked from the crest of the Sandown Anticline. Most individual hiatuses are interpreted as minor unconformities developed subsequent to inversion, rather than eustatically-generated sequence boundaries:transgressive surfaces. In contrast, the succession north of the Needles Fault (Alum Bay) does not contain hiatuses of magnitude or internal unconformities. In the north-west of the island, subsidiary anticlinal and synclinal structures developed in response to Eocene inversion events by the reactivation of minor basement faults. The new dates of the Eocene inversion events correspond closely with radiometric ages derived from fracture vein-fill calcites in Dorset, to the west (36-48Ma).

INFORMATION TECHNOLOGY EMPLOYERS ANALYSIS: THE CASE STUDY OF THE NORTH-WEST OF RUSSIA

2017 ◽  
Author(s):  
Eugene Pitukhin ◽  
Aleхandra Dyatlova ◽  
Anna Tulaeva ◽  
Aleksey Varfolomeyev
Keyword(s):  
Information Technology ◽  
North West ◽  
The North

THE HYDROCARBON POTENTIAL OF EXPLORATION PERMITS WA-299-P AND WA-300-P, CARNARVON BASIN: A CASE STUDY

2003 ◽  
Vol 43 (1) ◽  
pp. 339 ◽  
Author(s):  
M. Partington ◽  
K. Aurisch ◽  
W. Clark ◽  
I. Newlands ◽  
S. Phelps ◽  
...  
Keyword(s):  
Late Cretaceous ◽  
Hydrocarbon Potential ◽  
North West ◽  
The North ◽  
Alluvial Channel ◽  
Main Fault ◽  
Early Palaeozoic ◽  
Eastern Edge ◽  
Carnarvon Basin

Exploration permits WA-299-P and WA-300-P lie west of the North West Cape in a frontier part of the Carnarvon Basin where the largely Mesozoic Exmouth Sub-basin abuts against shallow Palaeozoic strata of the Gascoyne Platform. The only exploration well, within the permits, Pendock–1, penetrated a thin Valanginian Birdrong Sandstone unconformably overlying Carboniferous to Silurian units, so the Mesozoic hydrocarbon potential of the area is effectively untested.The structure of the area comprises a complex mosaic of NNE–SSW trending Early Palaeozoic extensional, listric growth faults, dissected by NW–SE trending Permian extension relay zones. Subsequent phases of Callovian– Oxfordian and Valanginian uplift, together with Late Cretaceous and Miocene inversion along the main fault zone, further complicate the structure. Several seismic events, some of which correlate with magnetic anomalies, are discordant with the local stratigraphy indicating a probable igneous origin.The primary targets are the Birdrong Sandstone and underlying Wogatti Formation, both of which host onshore oil accumulations at Rough Range and Parrot Hill–1. The retrogradational clastic shoreline facies of the Birdrong Sandstone is well known along the eastern edge of the Dampier–Barrow–Exmouth Sub-basins. The Wogatti Formation was deposited as a more restricted alluvial/ fluvial sheet sand facies, so far identified only in the onshore Cape Range area. Where the Jurassic is preserved, fluvial/alluvial channel sand facies of the Middle Jurassic Learmonth Formation, known onshore at Sandy Point–1, and Callovian nearshore sands, as observed in Unknown Hill–l, are expected to be important secondary targets.The most promising play types within the Southern Carnarvon Basin are dip and fault-dip closures at Birdrong/Wogatti level associated with Late Cretaceous reactivation of the main NE–SW listric faults, and accentuated by later Miocene compression. The most significant exploration risks are charge and the high risk of biodegradation of reservoired liquid hydrocarbons (critically linked to reservoir temperature).

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