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The AAPG/Datapages Combined Publications Database

AAPG Bulletin


Volume: 54 (1970)

Issue: 5. (May)

First Page: 863

Last Page: 863

Title: Geologist's Role in Evaluation Economics: ABSTRACT

Author(s): William B. Oliver

Article Type: Meeting abstract


The geologist must interact in a continuous exchange of information and ideas with other functions in his company. The geologic function remains in the midst of the functional universe--from discovery to depletion.

The discovery of a potentially commercial deposit must be viewed with the objectives of (1) definition of the economic value of the prospect by geologic analysis of the data that are known or can be developed, (2) preparation of comparative prospect ratings, which implies multiple successes in the exploration program or, at least, alternative investment opportunities, and (3) identification of the competitive position of other operators.

The strategy required to pursue the objectives of prospect analysis is (1) preparation of a preliminary economic evaluation, including the assembly and interpretation of all the geologic data which came out of the exploration phase, (2) comparison with other prospects and establishment of priorities through a rating system, (3) preparation of pre-development evaluation based on priorities established and limited by availability of funds, and (4) communication of technical data to other functions on a continuing basis to insure the necessary flow of facts throughout the organization. The geologic function is the bridge between nature and technology.

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Copyright 1997 American Association of Petroleum Geologists