Decisions Involving Uncertainty:
An @RISK Tutorial for the Petroleum Industry
by Dr. James Murtha
$69.99
A great extension of Murtha's highly successful seminars on the use of @RISK in the petroleum industry. You start here with 2 chapters to get up to speed on the philosophy of risk analysis and the requisite principles in probability, statistics, and Monte Carlo simulation. Following are the basic steps you'd take to actually build, run, and interpret results for a real risk analysis model in @RISK. To make it as hands-on as possible, Murtha includes lots of petroleum examples - an accompanying disk includes all these examples pre-built in 1-2-3, and in some cases, Excel worksheets. Volumetric reserves, exponential decline, porosity and water saturation, waterflood prospect, and competitive bidding are some of the examples. This is a rare offering in that you'll learn about the concepts of risk analysis while also getting some very solid hands-on experience with risk analysis modeling in @RISK.SC, 150 pp.
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Other Books by Dr. James Murtha
- Murtha, J.A.:Foundations of Reservoir Management, Course notes/manuscript.
- Murtha, J.A.: Risk Analysis for Petroleum Investment Decisions, Course manual and Video, IHRDC 1993.
- Cress, W.D. and Murtha, J.A.,:Spreadsheet Design and Applications for Engineers and Scientists, course notes/manuscript.
- Murtha, J.A. and Willard, E.R.:Linear Algebra and Geometry, Holt Rinehart, Winston, New York, 1969.
- Murtha, J.A. and Willard, E.R.:Statistics and Calculus - A First Course, Prentice Hall, Englewood Cliffs, NJ, 1973.
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