Decision Analysis for Petroleum Exploration, Second Edition

This is an update of the 1975 best-selling text, which became the standard reference in the field. This book introduces the reader to ways of applying risk and decision analysis to the analysis of investment decisions under uncertainty in petroleum exploration.
Topics covered in the book represent a composite of evaluation practices and problem-solving approaches used throughout the world. Several ideas and concepts were first published in the first edition of this book.
Decision analysis methods apply to any type of business investment decision. The emphasis in this book is on quantitative methods useful in petroleum exploration decisions. The book will be of special interest to anyone involved in the evaluation of property acquisitions, geophysical surveys, and prospect drilling decisions: petroleum geologists, engineers, geophysicists and managers. A mathematical or statistical background is not required to follow the practical, applications-oriented discussions.