Integration of Basin Modelling, Uncertainty Analysis, HC Charge Volume Assessment in Petroleum Exploration Risk Evaluation

2013 ◽  
Author(s):  
Jianchang Liu ◽  
Barry J. Katz
Keyword(s):  
Uncertainty Analysis ◽  
Risk Evaluation ◽  
Petroleum Exploration ◽  
Modelling Uncertainty ◽  
Basin Modelling ◽  
Exploration Risk ◽  
Volume Assessment

Petroleum Exploration Risk in Prospect Portfolio Selection

2017 ◽  
pp. 40-65
Keyword(s):  
Standard Deviation ◽  
Portfolio Selection ◽  
Six Sigma ◽  
Efficient Frontier ◽  
Sharpe Ratio ◽  
Petroleum Exploration ◽  
Management Approach ◽  
Portfolio Optimisation ◽  
Exploration Risk ◽  
Return Variance

Presented method is applied to petroleum exploration for prospect portfolio selection to achieve investment objectives controlling risk. DMAIC framework applies stochastic techniques to risk management. Optimisation resolves Efficient Frontier of portfolios for desired range of expected return with initially defined increment. Simulation measures Efficient Frontier portfolios calculating mean return, variance, standard deviation, Sharpe Ratio, and Six Sigma metrics versus pre-specified target limits. Analysis considers mean return, Six Sigma metrics and Sharpe Ratio and selects the portfolio with maximal Sharpe Ratio as initially the best portfolio. Optimisation resolves Efficient Frontier in a narrow interval with smaller increments. Simulation measures Efficient Frontier performance including mean return, variance, standard deviation, Sharpe Ratio, and Six Sigma metrics versus pre-specified target. Analysis identifies the maximal Sharpe Ratio portfolio, i.e. the best portfolio for implementation. Selected prospects in the portfolio are individual projects. So, Project Management approach is used for control.

scholarly journals Exploration risk evaluation using object-based modeling, an example from the Tertiary fractured play, western Qaidam Basin of China

2008 ◽  
Vol 5 (3) ◽  
pp. 195-202 ◽  
Author(s):  
Zhuoheng Chen ◽  
Suyun Hu ◽  
Zhijun Jin ◽  
Xiongqi Pang ◽  
Zhenxue Jiang ◽  
...  
Keyword(s):  
Risk Evaluation ◽  
Qaidam Basin ◽  
Object Based ◽  
Western Qaidam Basin ◽  
Exploration Risk

Public geoscience to reduce exploration risk: new methods to characterize the basement beneath geological cover and to address community engagement in the Cariboo-Chilcotin region of British Columbia1This article introduces a series of papers published in this Special Issue on the theme of New insights in Cordilleran Intermontane geoscience: reducing exploration risk in the mountain pine beetle-affected area, British Columbia. James Haggart is the Special Issue guest editor.2Geological Survey of Canada Contribution 20100476.

2011 ◽  
Vol 48 (6) ◽  
pp. 861-869 ◽  
Author(s):  
James W. Haggart ◽  
Josephine M. Harris ◽  
Christine A. Hutton
Keyword(s):  
Community Engagement ◽  
Economic Activity ◽  
Mountain Pine Beetle ◽  
Local Communities ◽  
Petroleum Exploration ◽  
Special Issue ◽  
Mountain Pine ◽  
Pine Beetle ◽  
Exploration Risk ◽  
Exploration Activity

Mineral and petroleum exploration in the Cariboo-Chilcotin region of British Columbia is hampered by widespread and extensive cover of Pleistocene glacial deposits and Tertiary volcanic successions. Seeing through this geological cover is critical to reducing exploration risk and enhancing exploration activity. Also critical to exploration is effective community engagement, hopefully resulting in endorsement and support for exploration initiatives. The forests in the Cariboo-Chilcotin region have been extensively destroyed by an infestation of the mountain pine beetle, Dendroctonus ponderosae , disrupting established communities and greatly affecting economic activity in the region. Governments of all levels recognized that geological exploration activity could provide a ready and appreciable stimulus to economic activity, but only if local communities endorsed such programs. Relatively little oil and gas exploration and research has taken place in the region, and its effects have been poorly understood locally. Consequently, an extended effort was undertaken to establish an integrated geoscience program for the Cariboo-Chilcotin region, focused on mineral and petroleum exploration-related research and coupled with engagement with local communities to inform them of exploration benefits and risks. This Introduction to the “Mountain Pine Beetle” Special Issue of Canadian Journal of Earth Sciences provides a brief overview of the scientific papers included in the issue and also a review of the community engagement process that was undertaken to establish working relationships with First Nations and other communities in the region.

Hydrocarbon exploration risk evaluation through uncertainty and sensitivity analyses techniques

2006 ◽  
Vol 91 (10-11) ◽  
pp. 1155-1162 ◽  
Author(s):  
Paolo Ruffo ◽  
Livia Bazzana ◽  
Alberto Consonni ◽  
Anna Corradi ◽  
Andrea Saltelli ◽  
...  
Keyword(s):  
Risk Evaluation ◽  
Hydrocarbon Exploration ◽  
Sensitivity Analyses ◽  
Exploration Risk

scholarly journals Prediction of petroleum exploration risk and subterranean spatial distribution of hydrocarbon accumulations

2011 ◽  
Vol 8 (1) ◽  
pp. 17-23 ◽  
Author(s):  
Hongbing Xie ◽  
Qiulin Guo ◽  
Feng Li ◽  
Jianzhong Li ◽  
Na Wu ◽  
...  
Keyword(s):  
Spatial Distribution ◽  
Petroleum Exploration ◽  
Exploration Risk

MIGRATION, LEAKAGE AND SEEPAGE CHARACTERISTICS OF THE OFFSHORE CANNING BASIN AND NORTHERN CARNARVON BASIN: IMPLICATIONS FOR HYDROCARBON PROSPECTIVITY

2003 ◽  
Vol 43 (2) ◽  
pp. 149 ◽  
Author(s):  
G.W. O’Brien ◽  
R. Cowley ◽  
G. Lawrence ◽  
A.K. Williams ◽  
M. Webster ◽  
...  
Keyword(s):  
Source Rocks ◽  
Large Area ◽  
Potential Field Data ◽  
Canning Basin ◽  
Basin Modelling ◽  
Exploration Risk ◽  
Northern Carnarvon Basin ◽  
Gas Chimneys ◽  
Hydrocarbon Charge ◽  
Carnarvon Basin

RadarSat and ERS Synthetic Aperture Radar (SAR) satellite data have been used for oil slick mapping as part of a systematic interpretative study of the offshore Canning Basin, as well as part of the northern Carnarvon Basin, extending from the inner shelf to the abyssal plain. These seepage data have been integrated with regional geological data, more than 12,000 km of reprocessed Airborne Laser Fluorosensor (ALF) survey data, seismic DHI indicators, water column geochemical sniffer data, potential field data, earthquake data and 2D Petromod basin modelling, to provide new insights into the region’s petroleum prospectivity and key exploration risk factors.From a prospectivity viewpoint, this study has highlighted several areas and processes. Firstly, it is clear that overpressure in the region is principally controlled by the thickness of the Tertiary carbonate wedge and we predict that overpressure may be present in parts of the deeper water Canning Basin. Secondly, the offshore Canning Basin contains a relatively low density of SAR-mapped oil slicks, though this appears to be due to a combination of factors, namely a paucity of vertical conduits for leakage, a predominantly condensate-prone charge and a small slick size.Significantly, several as-yet untested areas emerge from our observations. In the offshore Canning Basin, a 'window' exists in about 1,500–2,500 m of water, where the Triassic source rocks are particularly well placed for liquids generation. Morever, a large area in a radius some 20–80 km outboard of the Bedout High, also appears to have significant untested liquids potential, with respect to sourcing from the Triassic. The shallow section through this region contains a vast area with abundant seismically mapped gas chimneys and other seepage indicators, supporting the conclusions from the remote sensing and basin modelling of significant hydrocarbon charge in this region. Finally, the study indicates that liquids have been generated within the Palaeozoic section of the Bedout Sub-basin.

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