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

Mathematical Geology
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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