The static modeling and dynamic simulation are essential and critical processes in petroleum exploration and development. In this study, lithofacies models for Wabiskaw Member in Athabasca, Canada are generated by mul...The static modeling and dynamic simulation are essential and critical processes in petroleum exploration and development. In this study, lithofacies models for Wabiskaw Member in Athabasca, Canada are generated by multipoint statistics(MPS) and then compared with the models built by sequential indicator simulation(SIS). Three training images(Tls) are selected from modern depositional environments;the Orinoco River Delta estuary, Cobequid bay-Salmon River estuary, and Danube River delta environment. In order to validate lithofacies models, average and variance of similarity in lithofacies are calculated through random and zonal blind-well tests.In random six-blind-well test, similarity average of MPS models is higher than that of SIS model. The Salmon MPS model closely resembles facies pattern of Wabiskaw Member in subsurface. Zonal blind-well tests show that successful lithofacies modeling for transitional depositional setting requires additional or proper zonation information on horizontal variation, vertical proportion, and secondary data.As Wabiskaw Member is frontier oilsands lease, it is impossible to evaluate the economics from production data or dynamic simulation. In this study, a dynamic steam assisted gravity drainage(SAGD)performance indicator(SPIDER) on the basis of reservoir characteristics is calculated to build 3 D reservoir model for the evaluation of the SAGD feasibility in Wabiskaw Member. SPIDER depends on reservoir properties, economic limit of steam-oil ratio, and bitumen price. Reservoir properties like porosity,permeability, and water saturation are measured from 13 cores and calculated from 201 well-logs. Three dimensional volumes of reservoir properties are constructed mostly based on relationships among properties. Finally, net present value(NPV) volume can be built by equation relating NPV and SPIDER. The economic area exceeding criterion of US$ 10,000 is identified, and the ranges of reservoir properties are estimated. NPV-volume-generation workflow from reservoir parameter to static model provides costand time-effective method to evaluate the oilsands SAGD project.展开更多
Since the implementation of several pilot production tests were in natural gas hydrate(NGH) reservoirs in terrestrial and marine settings, the study of NGH has entered a new stage of technological development for indu...Since the implementation of several pilot production tests were in natural gas hydrate(NGH) reservoirs in terrestrial and marine settings, the study of NGH has entered a new stage of technological development for industrial exploitation. Prior to the industrial exploitation of any given NGH reservoir, the economic feasibility should be examined. The first step of economic evaluation of a NGH reservoir is to know whether its resource amount meets the requirement for industrial exploitation. Unfortunately, few relevant studies have been conducted in this regard. In this study, the net present value(NPV) method is employed to estimate the economic critical resources required for the industrial exploitation of NGHs under different production scenarios. Sensitivity analysis is also performed in order to specify the effects of key factors, such as the number of production wells, gas price, technological improvement and tax incentive, on the economic critical resources. The results indicate that China requires the lowest economic critical resource for a NGH reservoir to be industrially exploited, ranging from 3.62 to 24.02 billion m3 methane. Changes in gas price and tax incentives also play significant roles in affecting the threshold and timeline for the industrial exploitation of NGH.展开更多
The objective of this study were to conduct economic evaluations of silvopasture farming system to enable landowners, extension personnel, and other decision makers to correctly assess its potential among the many lan...The objective of this study were to conduct economic evaluations of silvopasture farming system to enable landowners, extension personnel, and other decision makers to correctly assess its potential among the many land-use options; and to determine the most profitable animal stocking rate on small farms in Alabama. The analysis draws on data from a silvopastoral experiment conducted in the Alabama Black Belt region, on the property of the Federation of Southern Cooperatives in Epes, Alabama, between June 2006 and July 2010. Economic and financial ratio analyses were used to compare profitability, management feasibility, and risk considerations of simultaneous production of pine sawlogs and meat goats on small-sized farms in Alabama. The results suggest that silvopasture technology is profitable and financially feasible under specified assumptions. The Net Present Value model suggested that investing in silvopasture system would be considered acceptable at the 6 percent discount rate at a high stocking rate of 8 meat goats per acre. These findings were reaffirmed by the financial feasibility analysis.展开更多
This paper introduces a new approach for measuring shareholder value creation （called adjusted economic profit （EP）） which combines the advantages of both EP and APV （adjusted present value） methods. In particul...This paper introduces a new approach for measuring shareholder value creation （called adjusted economic profit （EP）） which combines the advantages of both EP and APV （adjusted present value） methods. In particular, the shareholder value creation over a period is derived as the sum of two components： the EP relating purely to the operations of the company and the EP generated each period due to the tax benefit that arises from debt financing. We consider our results to be important for analysts and decision makers involved in appraising business performance or making investment decisions and HR professionals as well.展开更多
In this paper, the classical economic order quantity （EOQ） inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the...In this paper, the classical economic order quantity （EOQ） inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are received is also eased. We consider an inventory situation where items received from the supplier are of two types of quality, perfect and imperfect, and a short deferral in payment is allowed. The split between perfect and imperfect quality items is assumed to follow a known probability distribution. Both qualities of items have continuous demands, and items of imperfect quality are sold at a discount. A mathematical model is developed using the net present value of all cash flows involved in the inventory cycle. A numerical method for obtaining the optimal order quantity is presented, and the impact of the short-term financing is analyzed. An example is presented to validate the equations and illustrate the results.展开更多
As the loss of wild lands to satisfy traditional economic development has become a global environmental problem in recent decades, using ecosystem valuation to estimate the total economic value (TEV) of an ecosystem h...As the loss of wild lands to satisfy traditional economic development has become a global environmental problem in recent decades, using ecosystem valuation to estimate the total economic value (TEV) of an ecosystem has become popular. The main purpose of the ecosystem valuation is to strengthen the importance of ecosystems, and bring the ecosystem services into the traditional cost-benefit analyses of land use strategy. Some studies have illustrated that in remote areas, wilderness can produce more value if it is conserved, rather than converted to traditional agricultural or industrial uses. The same situation does not seem to exist in vigorous economic regions. Thus, a case study was conducted on the Jiuduansha Wetland in Shanghai using three approaches: the direct market valuation, the replacement valuation and the contingent valuation. The net present TEVs of three land use scenarios over one hundred years were evaluated. The results proved that simply based on ecosystem valuation, when compared with the other two scenarios of "conservation" and "selective use", "partial conversion into terrene (dry land)" of Jiuduansha might be the optimal scenario for the well-being of the people in Shanghai. Land price was identified as the most important factor. This situation is likely due to the scarcity of land available for traditional economic development in Shanghai. Thus, we speculated that the fate of the wilderness to "be destroyed" in vigorous economic regions could not be changed simply based on ecosystem valuation. However, the variety of interest by local residents in wilderness might enhance the TEVs of scenarios such as "conservation" and "selective use", and affect the valuation results. Since some important benefits of natural ecosystems remain unknown and others are underestimated, we suggested that any land use decisions regarding the Jiuduansha Wetland should be conservative and cautious as converting wetlands into terrene is an irreversible process.展开更多
基金supported by the Energy Efficiency and Resources Program of the Korea Institute of Energy Technology Evaluation andPlanning(KETEP,Grant No.20132510100060)the Basic Research Program of Korea Institute of Geoscience and Mineral Resources(KIGAM,GP2017-024)+2 种基金funded by the Ministry of ScienceICTFuture Planning of Korea
文摘The static modeling and dynamic simulation are essential and critical processes in petroleum exploration and development. In this study, lithofacies models for Wabiskaw Member in Athabasca, Canada are generated by multipoint statistics(MPS) and then compared with the models built by sequential indicator simulation(SIS). Three training images(Tls) are selected from modern depositional environments;the Orinoco River Delta estuary, Cobequid bay-Salmon River estuary, and Danube River delta environment. In order to validate lithofacies models, average and variance of similarity in lithofacies are calculated through random and zonal blind-well tests.In random six-blind-well test, similarity average of MPS models is higher than that of SIS model. The Salmon MPS model closely resembles facies pattern of Wabiskaw Member in subsurface. Zonal blind-well tests show that successful lithofacies modeling for transitional depositional setting requires additional or proper zonation information on horizontal variation, vertical proportion, and secondary data.As Wabiskaw Member is frontier oilsands lease, it is impossible to evaluate the economics from production data or dynamic simulation. In this study, a dynamic steam assisted gravity drainage(SAGD)performance indicator(SPIDER) on the basis of reservoir characteristics is calculated to build 3 D reservoir model for the evaluation of the SAGD feasibility in Wabiskaw Member. SPIDER depends on reservoir properties, economic limit of steam-oil ratio, and bitumen price. Reservoir properties like porosity,permeability, and water saturation are measured from 13 cores and calculated from 201 well-logs. Three dimensional volumes of reservoir properties are constructed mostly based on relationships among properties. Finally, net present value(NPV) volume can be built by equation relating NPV and SPIDER. The economic area exceeding criterion of US$ 10,000 is identified, and the ranges of reservoir properties are estimated. NPV-volume-generation workflow from reservoir parameter to static model provides costand time-effective method to evaluate the oilsands SAGD project.
基金the financial support provided by the Guangdong Major Project of Basic and Applied Basic Research(Grant No.2020B0301030003)supported by the Department of Science and Technology of Guangdong Province,as well as project(DD20221703)supported by the China Geological Survey。
文摘Since the implementation of several pilot production tests were in natural gas hydrate(NGH) reservoirs in terrestrial and marine settings, the study of NGH has entered a new stage of technological development for industrial exploitation. Prior to the industrial exploitation of any given NGH reservoir, the economic feasibility should be examined. The first step of economic evaluation of a NGH reservoir is to know whether its resource amount meets the requirement for industrial exploitation. Unfortunately, few relevant studies have been conducted in this regard. In this study, the net present value(NPV) method is employed to estimate the economic critical resources required for the industrial exploitation of NGHs under different production scenarios. Sensitivity analysis is also performed in order to specify the effects of key factors, such as the number of production wells, gas price, technological improvement and tax incentive, on the economic critical resources. The results indicate that China requires the lowest economic critical resource for a NGH reservoir to be industrially exploited, ranging from 3.62 to 24.02 billion m3 methane. Changes in gas price and tax incentives also play significant roles in affecting the threshold and timeline for the industrial exploitation of NGH.
文摘The objective of this study were to conduct economic evaluations of silvopasture farming system to enable landowners, extension personnel, and other decision makers to correctly assess its potential among the many land-use options; and to determine the most profitable animal stocking rate on small farms in Alabama. The analysis draws on data from a silvopastoral experiment conducted in the Alabama Black Belt region, on the property of the Federation of Southern Cooperatives in Epes, Alabama, between June 2006 and July 2010. Economic and financial ratio analyses were used to compare profitability, management feasibility, and risk considerations of simultaneous production of pine sawlogs and meat goats on small-sized farms in Alabama. The results suggest that silvopasture technology is profitable and financially feasible under specified assumptions. The Net Present Value model suggested that investing in silvopasture system would be considered acceptable at the 6 percent discount rate at a high stocking rate of 8 meat goats per acre. These findings were reaffirmed by the financial feasibility analysis.
文摘This paper introduces a new approach for measuring shareholder value creation （called adjusted economic profit （EP）） which combines the advantages of both EP and APV （adjusted present value） methods. In particular, the shareholder value creation over a period is derived as the sum of two components： the EP relating purely to the operations of the company and the EP generated each period due to the tax benefit that arises from debt financing. We consider our results to be important for analysts and decision makers involved in appraising business performance or making investment decisions and HR professionals as well.
文摘In this paper, the classical economic order quantity （EOQ） inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are received is also eased. We consider an inventory situation where items received from the supplier are of two types of quality, perfect and imperfect, and a short deferral in payment is allowed. The split between perfect and imperfect quality items is assumed to follow a known probability distribution. Both qualities of items have continuous demands, and items of imperfect quality are sold at a discount. A mathematical model is developed using the net present value of all cash flows involved in the inventory cycle. A numerical method for obtaining the optimal order quantity is presented, and the impact of the short-term financing is analyzed. An example is presented to validate the equations and illustrate the results.
文摘As the loss of wild lands to satisfy traditional economic development has become a global environmental problem in recent decades, using ecosystem valuation to estimate the total economic value (TEV) of an ecosystem has become popular. The main purpose of the ecosystem valuation is to strengthen the importance of ecosystems, and bring the ecosystem services into the traditional cost-benefit analyses of land use strategy. Some studies have illustrated that in remote areas, wilderness can produce more value if it is conserved, rather than converted to traditional agricultural or industrial uses. The same situation does not seem to exist in vigorous economic regions. Thus, a case study was conducted on the Jiuduansha Wetland in Shanghai using three approaches: the direct market valuation, the replacement valuation and the contingent valuation. The net present TEVs of three land use scenarios over one hundred years were evaluated. The results proved that simply based on ecosystem valuation, when compared with the other two scenarios of "conservation" and "selective use", "partial conversion into terrene (dry land)" of Jiuduansha might be the optimal scenario for the well-being of the people in Shanghai. Land price was identified as the most important factor. This situation is likely due to the scarcity of land available for traditional economic development in Shanghai. Thus, we speculated that the fate of the wilderness to "be destroyed" in vigorous economic regions could not be changed simply based on ecosystem valuation. However, the variety of interest by local residents in wilderness might enhance the TEVs of scenarios such as "conservation" and "selective use", and affect the valuation results. Since some important benefits of natural ecosystems remain unknown and others are underestimated, we suggested that any land use decisions regarding the Jiuduansha Wetland should be conservative and cautious as converting wetlands into terrene is an irreversible process.
