DECISIONS INVOLVING UNCERTAINTY:
AN @RISK TUTORIAL FOR THE PETROLEUM INDUSTRY
by Dr. James A. Murtha
$69.99
A great extension of Murtha's highly successful seminars on the use of @RISK in the petroleum industry. The book starts with 2 chapters that bring the reader up to speed on the philosophy of risk analysis and the requisite principles in probability, statistics, and Monte Carlo simulation. From there, you get into 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 many examples from the petroleum industry - an accompanying disk includes all these examples pre-built in Lotus 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 areas covered in 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. 150 pages.
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OTHER BOOKS BY DR. JAMES A. 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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