Ian Lerche and James. A. MacKay
publication date: November 2007 ISBN 0 906522 587 vi + 331pp £59.50
This book brings together the ability to discuss, in a quantitative and coherent fashion, problems having to do with oil and gas flow up and along subsurface faults. The main thrust of the book is concerned with problems of flow and retainable reservoir amounts including leakage and production factors, of financial, exploration and risk factors, of gas and oil differences, and of the need to determine how many Monte Carlo calculations to perform. Problems of pressure in the subsurface also impact exploration risk and estimation of probable pressure conditions are discussed. The probabilistic conditions ahead of drill determination are crucial in determining likely financial rewards and evaluation of such considerations is also shown to play a crucial role. The book is designed for both students in petroleum engineering and also for professionals who actively have to grapple with such problems.
He has authored many hundreds of papers and over two dozen books. His main professional interests are hydrocarbon exploration and production risk problems, environmental and economic assessment of geohazards, astrophysics, and applied mathematics. He sits on several editorial boards, has received several international awards including the Levorsen Award of the AAPG, the John Cedric Griffiths Award of the IAMG, and the Dupont Award for Science. He was Nordic Professor of Petroleum Geology 1991, French Academy of Sciences Visiting Professor 1995, DAAD Professor of Geology at the University of Leipzig 2003-2005, and Mercator Professor of Astrophysics at the Ruhr University (Bochum) 2005-2006.
Jim is a partner in Rose and Associates (Houston). He was a driving force behind the statistical applications of the risk assessment group at Texaco for many years and is renowned for his short courses to the oil and energy industry on risking methods and procedures. He was also with exploration research at Texaco for several years where he was instrumental in the adoption of a successful risk assessment process still used throughout the company. His main interests are all aspects of risk analysis for hydrocarbon exploration and production. He has authored several dozen papers on all aspects of risking. Together with Ian Lerche, he produced the now classic hydrocarbon risk book Economic Risk in Hydrocarbon Exploration (1999, Academic Press).