Value of seismic information with multiple drilling targets Conference Paper uri icon

abstract

  • Previous work has focused on valuing seismic information in the context of a go/no-go decision surrounding a single hydrocarbon target. While useful, this scenario fails to address the more common decision situation facing most oil and gas companies: the development of a multi-target drilling program in the face of constrained resources (e.g., capital, rigs, time). In this paper, we quantify the value of seismic information when facing some form of drilling or budget constraint. In so doing, we demonstrate that seismic information is potentially more valuable than has been shown before. We also highlight the importance of quantifying seismic accuracy in different geologic settings. Copyright 2006, European Association of Geoscientists and Engineers.

published proceedings

  • Society of Petroleum Engineers, 68th European Association of Geoscientists and Engineers Conference and Exhibition, incorporating SPE EUROPEC 2006, EAGE 2006: Opportunities in Mature Areas

author list (cited authors)

  • Bickel, J. E., Gibson, R. L., McVay, D. A., Pickering, S., & Waggoner, J

complete list of authors

  • Bickel, JE||Gibson, RL||McVay, DA||Pickering, S||Waggoner, J

publication date

  • January 1, 2006 11:11 AM