Valuing lost production from destroyed structures is an important measure in investment decision making, since if the value of future production is less than the expected redevelopment and cleanup cost, then the decision to redevelop the property will either be postponed or not undertaken. In the final part of this series, a meta-model framework is presented to quantify the quantity and value of lost production from the 2004 to 2005 hurricane seasons. Previously, in Part 3, sensitivity graphs and similar charts were presented to illustrate the manner in which system parameters impact the model output. Part 4 described the use of a more sophisticated, and in many respects, more useful technique to explore sensitivity analysis and the complex interactions of assumptions in model output. The technique is illustrated with examples.


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    Title :

    Modeling Gulf of Mexico lost production - 4. Conclusion. Meta evaluation helps model lost Gulf of Mexico output


    Contributors:

    Published in:

    Oil and Gas Journal ; 106 , 28 ; 30-34


    Publication date :

    2008


    Size :

    5 Seiten, 3 Tabellen



    Type of media :

    Article (Journal)


    Type of material :

    Print


    Language :

    English




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