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Use of the truncated shifted Pareto distribution in assessing size distribution of oil and gas fields

Mathematical Geology

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DOI: 10.1007/BF00892970

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Abstract

The truncated shifted Pareto (TSP) distribution, a variant of the two-parameter Pareto distribution, in which one parameter is added to shift the distribution right and left and the right-hand side is truncated, is used to model size distributions of oil and gas fields for resource assessment. Assumptions about limits to the left-hand and right-hand side reduce the number of parameters to two. The TSP distribution has advantages over the more customary lognormal distribution because it has a simple analytic expression, allowing exact computation of several statistics of interest, has a "J-shape," and has more flexibility in the thickness of the right-hand tail. Oil field sizes from the Minnelusa play in the Powder River Basin, Wyoming and Montana, are used as a case study. Probability plotting procedures allow easy visualization of the fit and help the assessment. ?? 1988 International Association for Mathematical Geology.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Use of the truncated shifted Pareto distribution in assessing size distribution of oil and gas fields
Series title:
Mathematical Geology
DOI:
10.1007/BF00892970
Volume
20
Issue:
8
Year Published:
1988
Language:
English
Publisher location:
Kluwer Academic Publishers-Plenum Publishers
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
Mathematical Geology
First page:
907
Last page:
937