"Notes on Exploration and Production Portfolio Optimization," co-authored with Sam L. Savage, (135K in Adobe pdf format) discusses the application of portfolio theory to the selection of exploration and production (E&P) projects in the petroleum industry. The classic Markowitz approach to Modern Portfolio Theory used in the financial community has been generalized using stochastic linear programming to accommodate arbitrary probability distributions and asymmetric risk penalties. This paper contains some of the foundational material for Holistic vs. Hole-istic E&P Strategies, which appears in the September 1999 issue of the Journal of Petroleum Technology, pp 50-54, SPE No 57701. A prototype Exploration and Production Portfolio Optimization model, EPPO (95K in Microsoft Excel format) is also available for download.
Brochure describing Asset Interplay Management (42K in Adobe pdf format)
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