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f Measuring Appraisal Succes - the Economic Reality
- Publisher: European Association of Geoscientists & Engineers
- Source: Conference Proceedings, 60th EAGE Conference and Exhibition, Jun 1998, cp-110-00414
- ISBN: 978-90-73781-09-2
Abstract
A number of performance measures, e.g. volume of hydrocarbons discovered per unit of drilled footage, have been used in the industry to measure success in exploration. No such measure has been proposed in the literature for (subsurface) appraisal. Such an indicator is important because the industry spends large amounts of money on appraisal, and performance measures designed for exploration are not generally appropriate for appraisal.