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AAPG Bulletin
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AAPG Bulletin; Year: 2016; Issue: February DOI: 10.1306/08101515059
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Figure 1. Problem: If all the information we have to go on is the raw success versus failure statistics of an analogous set of wells, how do we translate the number (75%) representing the frequency of past success into a go-forward prediction of the chance of success of an undrilled prospect (Pg)?
Figure 1. Problem: If all the information we have to go on is the raw success versus failure statistics of an analogous set of wells, how do we translate the number (75%) representing the frequency of past success into a go-forward prediction of the chance of success of an undrilled prospect (Pg)?