A Player in the Emergence of E&P Risk Analysis

By the time they are drilled, almost all exploratory ventures today will have been geotechnically, statistically and economically analyzed to estimate their ultimate recovery of oil or natural gas, or its EUR, and its present monetary value, or PV, given discovery. This process is generally known as “exploration risk analysis” and it evolved primarily as a response to an endemic problem: explorers were discovering less than half of the EURs they forecast for their investors.

Image Caption

From left to right: Bob Megill, Ed Capen, Debbi Boonstra (AAPG staff) and Pete Rose, Calgary, 1989.

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