“Risk Analysis and Oil Production Curves” in ‘Oil & Gas Monitor’

The use of risk analysis in the oil and gas industry can take many forms. Whether it’s safety risk, economic risk or schedule-based risk, it is critical to know what risk factors exist and the likelihood that they may occur. Doing so allows decision-makers to plan in a manner that will ensure the highest attainable […]

“Decision Trees and the Value of Flexibility II” in Oil & Gas Monitor: Taking another look at “Bad” projects

Rafael Hartke continues his series with "Decision Trees and the Value of Flexibility II" in Oil & Gas Monitor. Hartke writes, "It’s a no-brainer that a good project with many chances to achieve success is better than one with only one chance. "But what about a bad project? Intuition immediately tells us that repeating a […]

“Decision Trees and the Value of Flexibility” in Oil & Gas Monitor

Rafael Hartke starts a series on the topic of "Decision Trees and the Value of Flexibility" in his most recent article in Oil & Gas Monitor. Decision trees "provide a simple and straight-forward platform for representing long-term strategies, including the options available right now, the uncertainties that will be revealed along the way and options […]

“Application and Benefits of Risk Analysis for Decision Making in the Oil Industry” in Oil & Gas Monitor

Rafael Hartke's column in the April issue of Oil & Gas Monitor covers "Application and Benefits of Risk Analysis for Decision Making in the Oil Industry." "Contrary to what may seem obvious on the surface, the driving force behind risk analysis is not statistics, simulation or intricate mathematical models – it is actually much simpler […]

“Practical Challenges of Implementing Risk Analysis in Oil Companies” in Oil & Gas Monitor

Oil & Gas Monitor features a regular column by Palisade's Rafael Hartke. The March column is titled "Practical Challenges of Implementing Risk Analysis in Oil Companies." "Oil companies face a number of practical challenges when moving forward with deterministic (static, non-risk) analyses and implementing risk analysis within their decision-making process. Utilizing risk analysis during a […]