This paper interest rates （i.e., the recent macroeconomic presents an IS-MP model with the term structure of yield curve） and discusses some of its applications to activities and policy issues. Specifically, the mod...This paper interest rates （i.e., the recent macroeconomic presents an IS-MP model with the term structure of yield curve） and discusses some of its applications to activities and policy issues. Specifically, the model is employed to explain （1） why a steepening yield curve may signal the subsequent economic expansion, （2） why long-term zero interest rate policy （ZIRP） may not completely avoid recessions, but disables the yield curve from being inverted to signal the following economic recession, （3） how Operation Twist （OT） may help ease the recession, in particular, under ZIRP, and what limit it may face.展开更多
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
文摘This paper interest rates （i.e., the recent macroeconomic presents an IS-MP model with the term structure of yield curve） and discusses some of its applications to activities and policy issues. Specifically, the model is employed to explain （1） why a steepening yield curve may signal the subsequent economic expansion, （2） why long-term zero interest rate policy （ZIRP） may not completely avoid recessions, but disables the yield curve from being inverted to signal the following economic recession, （3） how Operation Twist （OT） may help ease the recession, in particular, under ZIRP, and what limit it may face.
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.
