bluuebunny/crossref_metadata_2025_split huggingface dataset:
A Simplified Utility Framework For the Analysis of Financial Risk
Authors: Cozzolino John M. 
Published: December 2007

Society of Petroleum Engineers 6200 North Central Expressway Dallas, Texas 75206
THIS PAPER IS SUBJECT TO CORRECTION
American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Abstract
The von Neumann-Morgenstern utility (risk-preference) theory is the most consistent and comprehensive theory of risk. Yet it has been used very little for representation of financial risk problems. Instead, special purpose methods of risk representation have purpose methods of risk representation have been used. The goal of this paper is to propose a simplified utility framework. Three different possible axioms are considered. They all possible axioms are considered. They all uniquely imply that the utility function must be of the exponential form. It appears that this simplified utility framework will be more fruitful than other special purpose methods for risk representation. A two-stage method of risk analysis is recommended and an example from oil exploration is shown.

Introduction
An axiomatic, consistent representation of risk can lead to simple models that convey much insight. Such a foundation is the von Neumann-Morgenstern theory of utility (risk preference). This concept of risk is relative to preference). This concept of risk is relative to an individual decision maker. It is assumed that the individual's fundamental measure of wellbeing is his quantity of wealth. Thus, the argument of an individual's utility function is his wealth. This assumption commonly is made in treating financial problems.
The goal of this paper is to develop a simplified utility framework that trades off some of its generality to gain ease of solution for practical risk problems. The method is to assemble many well known facts into a comprehensive picture of the properties of exponential utility functions.
Following Pratt's notation, let x represent total wealth at the initial time. Let U(x) represent the individual's utility function for wealth at the end of the period. It is assumed that U(x) is continuous and possesses second derivatives. Let z represent the profit or net return (increment to wealth) during the period. Then the terminal wealth will be x + z period. Then the terminal wealth will be x + z at the end of the period. The profit is a random variable at the initial time. It has a probability distribution with density function probability distribution with density function f(z). This probability distribution may be discrete or continuous. However, without loss of generality, the notation of continuous random variables will be used.
At the initial time the individual's utility position is the expected utility of terminal wealth:~E {U(x+z)} = U(x+z)f(z)dz ...........(1a)
Increasing Eastern U.S. Natural Gas Reserves from Gas Bearing Shales
Authors: Overby William K. 
Published: December 2007

Abstract
The U. S. Energy Research and Development Administration (ERDA) has initiated a multi-year project directed toward the stimulation of project directed toward the stimulation of natural gas production in the Eastern Petroliferous basins. The objective of the project is to stimulate increased commercial production of natural gas by providing reliable resource data, developing economical extraction alternatives, and demonstrating the commercial feasibility of promising production techniques. The project promising production techniques. The project should provide a significant contribution to the domestic energy base, supply a clean fuel for eastern industrial use, and help to alleviate anticipated near-term and long-term shortages of natural gas.
The ERDA Eastern Gas Shales Project will be oriented specifically toward determining the true magnitude of potential gas reserves in the Devonian Age Shale, thoroughly characterizing the shale, and evaluating and improving state-of-the-art gas exploration and extraction technology. Results will be continually evaluated to determine areas in which new or additional studies may be needed and the desirability of planning and conducting a more extensive research, development, and demonstration (R, D and D) program. The project will concurrently monitor program. The project will concurrently monitor and protect the environment from possible damage resulting from natural gas development activities.
The project envisioned consists of the major elements listed below.An inventory of the natural gas resource and recoverable reserves contained in the Eastern Shales.A characterization of the nature of the shales in the three major sedimentary basins in the east (Appalachian, Illinois, and Michigan).The development of exploration methods for locating fractured shale and other gas reservoirs associated with shale.The performance of research and development studies on methods for improving gas recovery from the shales.The implementation of a concurrent Field-Test Program to transfer the concepts in exploration, drilling, stimulation, and production to the natural gas industry.The performance of environmental assessments to assure acceptable environmental impacts from exploratory and demonstration activity.The performance of economic analyses to indicate commercial viability of various options.
Fracture Investigation of the Devonian Shale Using Geophysical Well Logging Techniques
Authors: Myung John L. 
Published: December 2007

Publication Rights Reserved Publication Rights Reserved This paper is included in the Proceedings of the 1976Appalachian Petroleum Geology Symposium on Devonian Shales. It is reprinted here with Petroleum Geology Symposium on Devonian Shales. It is reprinted here with permission of the Geological and Economic Survey of the State of West permission of the Geological and Economic Survey of the State of West Virginia. Publication elsewhere is hereby restricted to an abstract of not more than 300 words, without illustrations, unless the paper is specifically released for publication by the copyright holder. Such abstract should contain appropriate conspicuous acknowledgment.

Abstract
Conventional well logs and interpretation methods do not provide sufficient information to evaluate the productive gas zones of the Devonian productive gas zones of the Devonian shale in the Appalachian area. The major gas accumulations are believed to occur in fracture systems in close proximity to the source beds. With proximity to the source beds. With this premise in mind, an approach to locating and evaluating the fractures and showing evidence of the source beds has been formulated.
The approaches to evaluating the fractures in the shale are discussed as follows:Empty Borehole Logging Program and Computer Data PresentationSeisviewer SurveyApplications of the 3-DVelocity Log

EMPTY BOREHOLE LOGGING PROGRAM AND COMPUTER DATA PRESENTATION
The empty borehole logging program to evaluate the shale formation program to evaluate the shale formation is extremely important since most operators are concerned about washouts and caving caused by filling the borehole with fluid. The Devonian shale is particularly sensitive to voter. The following should be considered an essential empty borehole logging program with currently available logs:
Gamma-Ray Log Formation Density Log Induction Log Temperature Log Sibilation Survey
Since conventional interpretation techniques using the above combination of logs do not provide a conclusive result in identifying potential pay zones in shale, a new potential pay zones in shale, a new concept and technique directed toward evaluating potential productive zones has been employed.
Use of Water Base Spacer with Thixotropic Cement Systems Improves Cement Jobs
Authors: Crinklemeyer O.W. , Puntney A.W. , Sharpe James R. 
Published: December 2007

Abstract
Cementing has been improved by application of a new water-base spacer ahead of thixotropic cement systems. Weight differential between the spacer and drilling mud can be easily controlled to provide good mud removal. The spacer helps control water loss of the following cement thus permitting use of a thixotropic system with expansive and proper rheological properties. Both bond logs proper rheological properties. Both bond logs and stimulation results have confirmed better cementing jobs using this new cementing technique.

Introduction
Past field Experience and laboratory studies have led to the identification of several factors which contribute to better cement jobs. Some of these factors are: use of a spacer to separate mud and cement, use of a low fluid loss cement system, and use of a cement that expands. In many areas, it has also been found desirable to use a thixotropic cement.
In the past it has seldom been possible to make use of all these factors in a single application. For example, known fluid loss additives could not be used with thixotropic cements since they dispersed the systems. Repeated failure to find a fluid loss additive for the thixotropic systems led to a new approach to this problem. It was decided to develop a spacer which would lay down a filter cake to control the fluid loss of the cement that followed it. In addition to providing fluid loss control for the cement, such a spacer would have to meet other requirements. Some of these are:It should be compatible with drilling muds.It should be compatible with the cement systems.It should have low fluid loss.It should be a water-base material, rather than oil, to facilitate disposal.
Such a spacer has been developed. For the purpose of simplicity, it will be referred to purpose of simplicity, it will be referred to as WBS (water-base spacer) in this paper.

WATER BASE SPACER
The water-base spacer consists of gelling agents and fluid loss additives. Actual development, however, required extensive research. The most difficult phase was finding the proper fluid loss additive.
Stimulation Evaluation by Type Curves: Case Histories
Authors: Sinha B.K. , Pugh T.D. 
Published: December 2007

Abstract
The purpose of this paper is to show the practical usefulness of Ramey et al. type curves in evaluating the results from stimulation treatments. This in turn aids in designing more effective stimulation treatments. Several case histories from different areas are included for illustration.

Introduction
A large number of wells now being drilled and completed are in reservoirs which would have been classified as uneconomical a few years ago. These low permeability reservoirs (less than 1 md) permeability reservoirs (less than 1 md) normally do not produce hydrocarbons economically without some type of stimulation treatment. Large size stimulation treatments (hydraulic fracturing and/or acidization) are increasingly becoming an integral part of well completion practices. In many cases, the production from these wells is too small to measure prior to the stimulation treatment, however, the same wells produce at economical rates after the stimulation treatment. Therefore, it is important that stimulation treatments for these low permeability reservoirs be carefully designed.
Traditionally, transient pressure tests have been used for determining the condition of a well prior to a stimulation treatment. The same type of tests may be applied in evaluating the effectiveness of a stimulation treatment. The application of such tests is discussed briefly in the SPE Monograph, Vol. 2, on Hydraulic Fracturing by Howard and Fast. Details concerning the different types of tests and analysis techniques are covered in SPE Monograph, Vol. 1, by Matthews and Russell. This monograph (Vol. 1) covers the state of the art as it existed prior to 1967.
Since 1967, considerable progress has been made in the field of transient pressure analysis. Most significant has pressure analysis. Most significant has been the improved understanding, of the early time pressure behavior of transient tests, which were considered too complex for analysis and thus were not utilized in the past. This has led to the analysis of the short-time data by type curve matching techniques. Developments in the field of well testing since 1967 have been summarized from a practical point of view by Ramey.
Foamed Acid As A Means For Providing Extended Retardation
Authors: Holcomb David L. 
Published: December 2007

Abstract
Foamed fluids with nitrogen percentages or qualities greater than 60 percent have been used to provide greater efficiency in fracturing fluid design than other conventional types of frac fluids. When acid rather than water is used for 15–40% of the fluid volume, the fluid retains the same efficiency characteristics of a stable foam with one additional dimension. The added dimension is that the acid will remain virtually unreacted while being pumped into even the most soluble formations, and only begins to react when its leak-off/reaction controlling movement is stopped. It is suspected that bubble configuration and structure play an important role in preventing reaction to any great degree before the fluid ceases to be pumped. However, to place the acid a given distance into the formation, with conventional foam qualities or gas percentages requires fracturing rates and pressures which limit application of such a retardation system in many reservoirs where concern for break-through via fracturing into water-bearing zones exists. Therefore, this technique is possibly limited to fracture acidization, but testing is presented to show the effects of acidization of soluble cores with lower quality foam (25%-50% N2 gas). Actual job results are presented with foamed acid in the lower quality ranges.

Introduction
The use of stable foam stimulation has been well documented in the literature in recent years. Its use has been in the realm of stimulation via fracturing and proppant placement. Blauer, Mitchell, Kohlhaas et. al., have described the mechanisms of foam rheology and efficiency within the realm of high quality or low quality foams (those with high gas volume to total foam volume ratios). Others have suggested foam properties in porous media. The ranges with the prescribed efficiencies for fracturing include those qualities between 0.5236 and 0.95 theoretically, and practically, those between 0.65 and 0.85. Low fluid loss with spurt losses approaching zero, and CI values of 1 × 10(-4) are the known benefits with foamed fracturing systems. Actual field demonstrations and laboratory demonstration of this efficiency were the first steps in the establishing of a mechanism for the extended control of HC1 acid reaction on soluble formations. Thus extended penetration of "live" HCl further away from the immediate well bore can be realized. Retardation of acids by a variety of means has been extensively investigated.
Polymer Use in Calcareous Formations
Authors: Townsend Wayne R. , Becker Steven A. 
Published: December 2007

Abstract
The use of polymers to improve areal and volumetric sweep efficiency of waterfloods in limestone and dolomite reservoirs has been very limited and has seldom achieved the desired results. Anhydrous polymers, used in calcareous formations, have been generally ineffective. A relatively new process has been developed and field tested whereby a monomer solution is mixed and pumped into the formation. Once in place, the well is shut in and the monomer allowed to polymerize in situ. The resultant polymer may polymerize in situ. The resultant polymer may (within limits) vary in concentration and viscosity as desired.
Successful treatments have been performed in carbonate reservoirs in three areas of West Texas and New Mexico, and results have been evaluated and studied over several months. Laboratory work has been done on actual formation rock to determine adsorption characteristics and length of time retained.

Introduction
Various type treatments have been used in injection wells in an attempt to increase the volumetric and areal sweep efficiency of waterfloods in limestone and dolomite reservoirs. Polymers, slurries, and gelatinous Polymers, slurries, and gelatinous materials are just a few of the more common agents used in this application.
Polymers used to increase the viscosity of the injection water may improve the areal sweep efficiency by producing additional oil from streamlines that have been developed between the injection and production wells.
Craig defines areal sweep efficiency as follows.
"In water-flooding, water is injected into some wells and produced from other wells. In an areal sense, injection and production take place at points. As a result, pressure distributions and corresponding streamlines are developed between injection and production wells. In symmetrical well patterns, a straight line connecting the injector and producer is the shortest streamline producer is the shortest streamline between these two wells, and as a result, the pressure gradient along this line is the highest. So injected water moving areally along this shortest streamline reaches the producing well before the water moving along any other streamline.
Denver Unit 10-Acre Infill Pilot Test and Residual Oil Testing
Authors: Maguson W.L. , Knowles J.D. 
Published: December 2007

Engineers, Inc.

Abstract
A 10-acre infill pilot test was conducted in the Denver Unit of the Wasson San Andres Field of West Texas to determine if the Unit could be further infilled economically to a tighter spacing at the culmination of a 20-acre infill program. Primary objectives of the test were to (a) delineate pay discontinuity in this San Andres dolomite reservoir, (b) determine size, shape, and orientation of waterflood fronts, (c) determine oil productivity of potential 10-acre locations, and productivity of potential 10-acre locations, and (d) evaluate remaining oil saturation.
From the results of the three-well program, it was concluded that the pay program, it was concluded that the pay continuity is higher than had been interpreted from previous work. All productive zones within the pay interval are being flooded, although at different rates such that 10-acre locations do not appear to have sufficient economic potential to support further infilling. From test data, a preferential directional conductivity could not be ascertained. The results of several methods of investigating residual oil saturation (well bore logs, whole core analysis, laboratory core centrifuge, counter current imbibition tests, and laboratory waterflood susceptibility tests) are discussed.

Introduction
A previous paper has discussed the changing concepts in the Denver Unit carbonate waterflooding with respect to geology, reservoir engineering, injection and production, and development (20-acre infill drilling). Subsequently, a 10-acre infill pilot test was carried out to determine if the Unit could be further infilled economically at the culmination of the 20-acre infill program. Primary objectives of the test were to (a) delineate Primary objectives of the test were to (a) delineate pay continuity at closer well spacing, (b) pay continuity at closer well spacing, (b) determine size, shape and orientation of waterflood fronts, (c) determine oil productivity of potential 10-acre locations, and productivity of potential 10-acre locations, and (d) evaluate remaining oil saturation to waterflooding.
Improving Reservoir Management for a Mature Field by Reservoir Characterization
Authors: Naguib M. A. , Hussein A. , Rial R. M. 
Published: December 2007

Abstract
Ras Budran filed is a massive Nubian sandstone reservoir compartmentalized by major faults acting as partial barriers. Vertical communication is impeded by hydraulically sealing shale layers in the development of three main pressure regimes. The pressure is supported by a combined water injection and aquifer drive. Pre-mature water breakthrough has been observed in the middle of oil leg, which in turn limits the corrective action of the isolation of the watered out zones.
A detailed reservoir characterization and engineering study was implemented with the objective of improving the vertical definitions in the reservoir. New reservoir sublayers were developed based upon open and cased hole log data in addition to the incorporation of core data.
The history-matched model was then used to confidently check the production well pattern, placement performance and then used to investigate the viability of infill wells to improve drainage pattern and sweep efficiency.
This paper discusses the different phases of the field development and how the reservoir management was optimized with time in order to access the remaining reserves of the field.
Compressibility Factor for Sour Gas Reservoirs
Authors: Elsharkawy Adel M. , Elkamel Ali 
Published: December 2007

Abstract
This paper presents the initial stage of an effort aimed at developing a new correlation to estimate pseudo critical properties for sour gas when the exact composition is not known. Several mixing rules and gas gravity correlations available in the literature are first evaluated and compared. The evaluation is performed on a large database consisting of more than 2000 samples of sour gas compositions collected worldwide. Several evaluation criteria are used including the average absolute deviation (AAD), the standard deviation (SD), the coefficient of correlation, R, and cross plots and error histograms. The mixing rules include: Kay's mixing rule combined with Wichert-Aziz correlation for the presence of non-hydrocarbons, SSBV mixing rule with Wichert and Aziz, Corredor et al. mixing rule, and Piper et al. mixing rule. These methods, in one form or another, use information on gas composition. Three different other methods that are based on gas gravity alone were also analyzed. These are: Standing, Sutton, and Elsharkawy et al. gas gravity correlations. While the methods based on knowledge of composition showed reasonable accuracy, those based on gas gravity alone showed weak accuracy with low correlation coefficients. A new gas gravity correlation that is based on the fraction of non-hydrocarbons present in the sour gas was proposed. Preliminary results indicate that a good improvement over past gravity correlations was achieved. The compositional correlations, still show, however, better accuracy. Research is still going on to come up with more accurate correlations that are based on only readily available descriptors.