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                        eng d\x1e  \x1fa978-1-61399-332-3\x1fc$25\x1e  \x1fa1-61399-332-3\x1e  \x1fa3
38.2728\x1e  \x1faKasriel, Ken\x1e 0\x1faCalibrating an economic limit test to maximize net 
present value/\x1fcKen Kasriel ; David Wood\x1e  \x1faRichardson, TX : \x1fbSPE, \x1fc2014\x1e  \x1fa
23p\x1e  \x1faSPE\x1fv169875-MS\x1e  \x1fadoi:10.2118/169875-MS\x1e  \x1faBibl; sd; in plastic folder
; this paper was prepared for presentation at the SPE Hydrocarbon Economics and 
Evaluation Symposium held in Houston, Texas, 19-20 May 2014\x1e  \x1faThis paper provi
des a critique of commonly used methods for calculating the economic limit test 
(ELT) in order to determine the assumed project abandonment date of upstream pet
roleum projects. It examines the weakness of the ELT calculation method prescrib
ed in the 2011 Guidelines for Application of the Petroleum Resources Management 
System Guidelines endorsed by the SPE, and offers an alternative ELT method that
 takes into consideration abandonment costs, income taxes, time value of money, 
and actual contractor cash revenue (the latter in the case of PSCs) in order to 
determine the abandonment date that maximizes investor net present values.\x1e  \x1faE
nglish\x1e  \x1faPetroleum exploration\x1e  \x1faPetroleum production\x1e  \x1faPetroleum economic
s\x1e  \x1faMathematical methods\x1e  \x1faEconomic models\x1e  \x1faWood, David\x1e  \x1faSociety of Pe
troleum Engineers\x1e  \x1fa20140288\x1e  \x1fhP 338.2728 Ka\x1ft1\x1fjAvailable for Circulation\x1e\x1d