POST ANALYSIS OF FIELD DEVELOPMENT PROJECTS.

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Franzen, Donald M.
Whittenburg, Larry A.
Sawyer, David N.
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The objective of this study was to determine the reliability of original estimates made for forty offshore field development projects. Based on the study results, it is concluded that a bias exists in estimates of field development events, e. g. project time, anticipated drilling schedules, initial production rates. There was no significant bias in recoverable reserves due to large variance in data. A statistical analysis was performed to determine the magnitude of the bias in each event and the 95% confidence limits.
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