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Probabilistic methodology for estimation of undiscovered petroleum resources in play analysis of the United States

Nonrenewable Resources

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DOI: 10.1007/BF01782269

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Abstract

A geostochastic system called FASPF was developed by the U.S. Geological Survey for their 1989 assessment of undiscovered petroleum resources in the United States. FASPF is a fast appraisal system for petroleum play analysis using a field-size geological model and an analytic probabilistic methodology. The geological model is a particular type of probability model whereby the volumes of oil and gas accumulations are modeled as statistical distributions in the form of probability histograms, and the risk structure is bilevel (play and accumulation) in terms of conditional probability. The probabilistic methodology is an analytic method derived from probability theory rather than Monte Carlo simulation. The resource estimates of crude oil and natural gas are calculated and expressed in terms of probability distributions. The probabilistic methodology developed by the author is explained. The analytic system resulted in a probabilistic methodology for play analysis, subplay analysis, economic analysis, and aggregation analysis. Subplay analysis included the estimation of petroleum resources on non-Federal offshore areas. Economic analysis involved the truncation of the field size with a minimum economic cutoff value. Aggregation analysis was needed to aggregate individual play and subplay estimates of oil and gas, respectively, at the provincial, regional, and national levels. ?? 1992 Oxford University Press.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Probabilistic methodology for estimation of undiscovered petroleum resources in play analysis of the United States
Series title:
Nonrenewable Resources
DOI:
10.1007/BF01782269
Volume
1
Issue:
2
Year Published:
1992
Language:
English
Publisher location:
Kluwer Academic Publishers
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
First page:
153
Last page:
162
Number of Pages:
10