bluuebunny/crossref_metadata_2025_split huggingface dataset:
Considerations in Buying Oil and Gas Production
Authors: Zeid Marvin C. 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Introduction
We are in an extremely fascinating industry - not only considering the oil industry as such, but especially one of the more interesting phases of it that we as petroleum engineers are engaged in. That is, petroleum engineers are engaged in. That is, the buying of producing oil and gas properties. The buying of producing oil and gas properties is a natural adjunct of the oil industry, which is essentially a trade industry. Once the liquid or gaseous product is located and is brought into production, it assumes a value. We as engineers have or should have the technical ability to estimate properly how much of this product is located in a particular reservoir and is recoverable by known means. Then by utilizing this estimated amount and applying the proper economic factors, we can determine a value for a particular well or wells, oil and/or gas field, or a group of fields. There is always a temptation for an engineer, when evaluating a prospective purchase, to take the attitude that since, "I purchase, to take the attitude that since, "I am technically qualified," it is my function to look at the safety factors involved in the estimate or, as I maintain, take the negative approach, and look for reasons why the purchase should not be consummated. That is always the safe, but as I strongly believe, the wrong approach. The purpose of this paper is to emphasize the point that in order to buy production we have to properly evaluate all production we have to properly evaluate all factors, both technical and psychological and, in fact, be in the "buying mood". If we have a purpose and a reason together with the purpose and a reason together with the wherewithal to buy, then in order to do so, we have to think positively and look at the plus factors involved and weigh them in their proper perspective with the existing negative factors. perspective with the existing negative factors. Of course, if at the outset we see too many negative factors, then we should not pursue the purchase. However, if the proper plus factors purchase. However, if the proper plus factors are present and there is a probability of a trade, our main function as engineers engaged in property acquisitions should be to try to make property acquisitions should be to try to make the trade based upon the best technical and economic basis. Obviously, in order to do so we have to explore positively the reasons to make the trade.
WHAT DOES A BUYER PAY FOR PRODUCTION?
An often-used statement is: "The purchase price for a property is its fair market value." price for a property is its fair market value." As we know, this statement has many definitions The most commonly used is that the "fair market value" is the price that a willing buyer will pay a willing seller at the market place. This pay a willing seller at the market place. This in itself implies a trade type of psychology.
Energy Concepts and Misconceptions Held by the U.S. Public
Authors: Merklein H.A. 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Abstract
The U.S. Congress, being an elected body, reacts to public opinion on any issue, including the energy issue. But public opinion is considerably misinformed, as a survey of executives of the American Business Press reveals. Press reveals. This paper posits that the term "energy shortage" is synonymous with the term "underpriced energy." With this definition in mind, some of the fears and misconceptions held by the U.S. public are identified and analyzed.

Introduction
In January 1976, the author was approached by the American Business Press with the request to give a Press with the request to give a paper on the energy situation, on the paper on the energy situation, on the occasion of their 1976 Annual Meeting. The American Business Press is an association of publishers of specialized business magazines covering a variety of industries such as chemical, banking, metalworking, mining, construction, medical, and many more. Approximately 500 top flight magazines are represented by the American Business Press.
The task was both challenging and frustrating. Its challenge lay in the impact such a paper could conceivably have since public opinion formers of practically every major U.S. industry were present. Its frustration was the communication threshold, the problem of coming across to a uniquely intelligent and articulate lay audience with a convincing analysis of a somewhat complicated process. Realizing that the audience would have legitimate questions and apprehensions, it occurred to the author that their apprehensions might not be the same as his. If so, he would deliver his paper on a totally different wave length, dealing with problems which in their opinion did not exist and ignoring trifles which were perceived by them to be grave problems.
These different perceptions are not solely a reflection of different industry representations.
Exploratory Prospect Evaluation by Monte Carlo Simulation
Authors: Fagerstone Dennis E. , Dalto Steven J. 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Introduction
The information upon which exploratory prospect evaluation is based will commonly prospect evaluation is based will commonly entail a great degree of uncertainty. Some value for reserves must be determined from a combination of parameters. Each parameter may be expressed as some possible range of values derived from the best available data for the objective to be tested. The stochastic nature of the controlling variables has led to the application of Monte Carlo simulation, which provides for this uncertainty through random provides for this uncertainty through random sampling of parameters that cannot be assigned a discrete value.
The use of Monte Carlo simulation under a variety of circumstances has been discussed in the literature. A classic paper on the method was published in 1964 by Hertz, and the adoption of the technique by analysts and engineers within the petroleum industry became apparent from reports beginning in 1967. It has been applied to engineering and log analysis, and used to include uncertainty in a complete reservoir-evaluation program. The determination of drilling venture profitability was described by Newendorp and Root, and Smith has proposed Monte Carlo simulation models that proposed Monte Carlo simulation models that apply to all stages of exploration and development. These existing concepts form the theoretical basis for the model presented here.
The presence of uncertainty in basic data will not always preclude the requirement for a specific quantitative answer. The purpose of the development outlined in this paper was to construct a tool that would provide such a result. Monte Carlo simulation has been used to generate multiple cases that reflect the effect of uncertainty upon potential profit, with the evaluations for each trial combined to produce a dollar value for the prospect. produce a dollar value for the prospect. The model, named MOCASIM, has been designed to account for the probabilistic nature of parameters that enter into the determination of parameters that enter into the determination of reserves. It provides for analysis from the time acreage is acquired until the prospect is condemned or any reserves are depleted. It is assumed that development and operations will occur under conditions consistent with established engineering practice. The treatment of these factors serves to distinguish his method from other working models presented.
The discussion that follows will present a complete description of a technique that has been utilized to evaluate exploratory prospects through Monte Carlo simulation.
Economic Analyses of Acceleration Projects
Authors: Aguilera Roberto 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Abstract
This paper analyzes the most important aspects for economic evaluation of acceleration projects, such as rate of return, net present worth, and future worth modification for incremental ROR analysis.
It is shown that reinvestment of incomes is not necessarily implied by the rate of return calculation as claimed by most publications of the petroleum engineering literature. An petroleum engineering literature. An investor is interested in the rate of return for the specific project where he is going to invest, no matter how his incomes are reinvested. The rate of return gives the return that an investor receives on the unamortized investment at the end of each year.
If the incremental acceleration project yields dual rates of return, it project yields dual rates of return, it is better to resort to net present worth analysis. However, a modified incremental rate of return, can still be used in these cases as an evaluation tool. Examples are presented using data of previously published papers in the petroleum engineering literature. petroleum engineering literature

Introduction
Acceleration projects are of common occurrence in the oil industry. Examples are (1) conversion of wells from beam to hydraulic or electrical submergible pumping, and (2) infill drilling.
Investments in acceleration projects are usually of the mutually projects are usually of the mutually exclusive type, which means that out of two alternatives only one can be selected. If for example, a well is declining at a rate of 12%/year, one may consider the possibility of installing subsurface equipment with larger extraction capacity, to increase production, say by twice although the declining rate will also increase. Here, we can choose only one production alternative, which means that we are dealing with a mutually exclusive type of investment.
Use of Potential Gradients in Massive Hydraulic Fracture Mapping and Characterization
Authors: Bartel L.C. , McCann R.P. , Keck L.J. 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Abstract
Mapping of massive hydraulic fractures allows for their efficient use to stimulate natural gas production in tight formations. A mapping technique has been used by Sandia Laboratories in conjunction with industry in the Green River Basin at Pinedale, Wyoming and in the Wattenburg field near Denver, Colorado. Comparison of field data to model calculations shows that the electrical potential gradients produced by the direct electrical excitation of the produced by the direct electrical excitation of the fracture well and fracture fluid can be used to map and characterize massive hydraulic fractures. The direction and any asymmetry of the fracture can be determined.

Introduction
In April 1973, a special Natural Gas Technology Task Force issued a preliminary report on three major gas deposits in the Rocky Mountain region which cannot be exploited with current extraction techniques. The regions considered were the Green River Basin in Wyoming, the Piceance Basin in Colorado, and the Uinta Basin Piceance Basin in Colorado, and the Uinta Basin in Utah. The low permeability of the gas bearing sands in these basins dictates that extremely large fractures are required to provide adequate productivity. The report indicates that the gas deposits could be stimulated by massive hydraulic fracturing (MHF). Massive hydraulic fracturing stimulation consists of multi-stage sand and fluid injections that would potentially create long fractures (appx. 5000 ft.) over a large gross pay interval. To assess the efficiency of the MHF process, characterization information is needed on the azimuthal direction, length, and height of the permeable portion of the hydraulic fractures. In addition, for production application of MHF, similar information will be needed to affect optimum well placement to achieve overall efficient drainage.
Sandia Laboratories is currently developing geophysical diagnostic techniques to characterize and map massive hydraulic fractures. These techniques include the use of passive seismic signals created by the fracturing and surface electrical potentials created by injecting current into the casing of the fracture well. In this paper, the modeling and field results of recent tests for the surface potential technique will be given.
The electrical MHF mapping technique consists of measuring potential gradients at the surface of the earth. The potential gradients are a result of using the fracture well casing along with the associated fracture filled with a conducting fracture fluid as one current electrode and a distant well casing as the other current electrode.
Monitoring and Control Program for a Large Scale Miscible Flood
Authors: Davis J.A. , Blair R.K. , Wagner O.R. 
Published: December 2007

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc.

Abstract
A hydrocarbon miscible flood project was started in the South Swan Hills field, Alberta, Canada, in July, 1973. In this operation rich hydrocarbon gas (solvent) is injected alternately with water into 22 injection wells. The flood is expected to recover 116 MM barrels of additional oil over that recoverable by waterflooding.
A comprehensive monitoring and control program was installed for this project to program was installed for this project to permit efficient operation and evaluation. permit efficient operation and evaluation. The program includes on-line chromatographic analysis of alternate NGL and gas supply streams and computerized calculation and adjustment of enrichment levels. The injection wells are automated to provide central metering and rate control capabilities. A variety of tracers were injected with both the solvent and water phases to permit tracking of the interwell movement of permit tracking of the interwell movement of the flood banks within a reservoir and a detailed sampling and analysis program has been instituted to monitor trace levels. Pressure survey programs and injectivity and Pressure survey programs and injectivity and production profiles are also run on the wells production profiles are also run on the wells on a regular basis to provide additional data to determine flood response.

Introduction
The South Swan Hills field, Alberta, Canada is a limestone reef of upper Devonian age at a subsurface depth of 8900 feet. It is developed on 160-acre well spacing and is comprised of 228 wells within the Unit boundaries. The Unit is presently made up of two separate projects; a waterflood started in 1963, and the miscible flood. The miscible flood project includes 116 wells of which 22 are injectors. The formation has two to four separate zones depending on the particular location in the field. The net oil-in-place and the recovery factors for each area are 580 million barrels for the miscible flood area, with a recovery of 65%, and 310 million barrels for the waterflood area with a recovery of 46% respectively. Current productive capacity of the miscible flood productive capacity of the miscible flood area is approximately 65,000 barrels of oil per day. To maintain a voidage replacement per day. To maintain a voidage replacement ratio of 1.0 the injection of 73,000 reservoir barrels of solvent and 58,000 barrels of water is required on a daily basis. The solvent volume is blended from approximately 14,000 barrels of LPG's and 50 MMCF of gas. The miscible flood area is divided into 21 separate patterns each with a central injector, as shown on Figure No. 1. These patterns are used as the basic element in patterns are used as the basic element in injection control and production scheduling. For injection and production wells on the dividing lines between patterns, one-half of the well is allocated to either pattern.
Development of an ISO 14001 Certified HSE Management System in a Large E & P Company
Authors: Cramwinckel Joppe , Thummarukudy Muralee 
Published: December 2007

Abstract
In 1997 Shell set a target of setting up a certified environmental management system in all its operating units by end of 2000. PDO was one of the first operating companies to take up this challenge. A number of learning points have evolved from the ISO implementation experience and this paper presents those learning point.
PDO is a big E & P operation producing about 850.000 barrel of oil per day, from oil field spanning across 1000 kilometers. The concession area is divided into six Product Flow Asset Teams (PFATs). In addition there are various service providers to these PFATs. The intricate web of division of responsibility between the PFATs and Service providers made it extremely difficult to force-fit an external system such as ISO 14001 into PDO.
PDO managed this challenge by following a multi-phased strategy. The existing environmental management system was integrated in a HSE Management system and it would be unwise to split to disengage the environmental component from the system only to satisfy the requirements of ISO 14001. Consequently the existing PDO system was reviewed and strengthened to meet the requirements of ISO 14001.
Secondly, one of the assets was chosen to pilot test the ISO implementation. This was done so that corporate effort could be concentrated on upgrading the corporate elements of the system, identifying pitfalls in implementing the system at asset level, while other assets could be familiarized with the implementation process. This strategy ensured that by the time the first asset was certified, the corporate elements were already meeting the ISO requirements and manpower across the asset was trained to implement the system in their own assets.
Upon successful completion of the ISO 14001 certification of Marmul Asset, PDO moved onto setting up the implementation processes for all other PFATs and service providers. Having sorted out the corporate elements, the corporate advisors were able to provide maximum support to implement the system at asset level. The implementation process was channeled through an asset ISO 14001 focal point. A gap analysis was done in each of the assets and an implementation plan was prepared. ISO focal points met once every week sharing their experiences and tracking progress. Whenever a number of assets highlighted a specific issue, corporate attention was given to it, which often included external resourcing. A number of innovative communication tools were developed during the implementation exercise to disseminate the ISO implementation at all levels of the organization from top management to the operators.
The paper discusses in detail the various steps undertaken by PDO to attain the ISO certification. Special attention will be given on timeframe, resources and communication.
A Mechanism to Reduce the Environmental Impact Together
Authors: de Jong J. W. , Henriquez L. R. 
Published: December 2007

Abstract
In the Netherlands a voluntary environmental agreement is used as a mechanism to achieve improvement with regard to reduction of environmental pollution resulting from the E&P activities. Experiences with this mechanism have improved the understanding between the E&P industry and the Government with regard to the implementation of environmental measures. The Dutch government improved their knowledge in such a way that quantified environmental performance indicators for each individual E&P operator have been derived using the benchmarking process as described in the ISO 14000 standards. From this benchmarking the Government has assessed the Best In Class among the E&P operators. This approach has been used as a driving mechanism to stimulate the improvement of the environmental performance of those operators. By applying the voluntary agreement mechanism the E&P industry together with the Dutch Government have achieved to reduce the environmental impact together, especially with regard to the emissions to air.
Shared Values and Environmental Regulation of Oil and Gas Industry Operations: A World-Wide Perspective
Authors: Stuart Graham 
Published: December 2007

Abstract
Environmental law has an essential role to play in achieving "progress through sharing values". This paper focuses on shared values in the regulatory sense, examining legislation that provides opportunities for the public to participate in and contribute to regulatory processes concerning the application, implementation and enforcement of environmental controls.
This paper examines the current status of legislation governing public participation rights and considers the potential impact of such rights on the environmental regulatory process. It provides a comparative analysis across a selection of jurisdictions of laws that provide for public involvement in the regulatory process, with a view to identifying areas of common practice and significant divergence. The emphasis is on laws that encourage public participation in environmental decision-making but references are also made to the development of laws that allow citizens to become involved in enforcement procedures. The countries surveyed are drawn from a regional cross-section of South America, Europe, Africa, the Middle East, Asia and the Far East.
This multi-jurisdictional analysis demonstrates the extent to which public participation rights have proliferated across the world, but also reveals significant variations in the form and content of these rights. It also highlights the particular features of regulations governing participatory rights that have the potential to expose projects to the highest level of public scrutiny. The paper concludes with an assessment of the potential impact of such rights on regulatory compliance during oil and gas industry operations.
Developing New Environmental Regulations for the Australian Offshore Petroleum Industry
Authors: Cobby Graham L. 
Published: December 2007

Abstract
On the 1 October 1999, new environmental regulations specific to the offshore Australian exploration and production industry, titled Commonwealth Petroleum (Submerged Lands) (Management of Environment) Regulations 1999, were introduced. These regulations adopt an objective, risk based approach, replacing an essentially prescriptive regime of directions previously used to regulate existing offshore activities. They represent a significant change to offshore environmental management requirements.
The regulations were developed by a working group consisting of key stakeholders from government, industry and non-government organisations (NGOs). The NGOs were represented by members of Greenpeace. Agreement was reached by all stakeholders enabling the respective Ministers to endorse the regulations in the knowledge that economic, environmental and social values had been adequately addressed. The process of sharing stakeholder values in the development of these regulations has significantly influenced the content and direction of these regulations.
This paper reviews the requirements of the new regulations, compares and contrasts the new regulations with the previous prescriptive regime, and considers the overall effectiveness of the consultation process.
Promoting a Positive Net Benefit to Biodiversity from E&P Projects in Sensitive Ecosystems
Authors: Sweeting Amy Rosenfeld , Prickett Glenn T. , Sugal Cheri A. 
Published: December 2007

Abstract
Oil and gas exploration and production in sensitive ecosystems presents both risks and opportunities for biodiversity conservation. Any petroleum E&P project in a sensitive environment should have as a goal ensuring that the project's presence in an area results in a positive net benefit for biodiversity conservation. This strategy has two, integrated components: minimizing the negative impacts, both direct and indirect, of project activity, and making a positive contribution to conservation, to ensure that benefits outweigh costs. This paper discusses the concept of positive net benefit and then briefly reviews examples of positive contributions to biodiversity conservation by oil and gas companies operating in sensitive environments.