Method of valuation of geological asset or information relating thereto in the presence of uncertainties
US10430872B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 4, 2013 |
| Grant date | Oct 1, 2019 |
| Priority date | — |
| Expiry date | Dec 20, 2034 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q10/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods are disclosed for assigning a value to a geological asset or information relating thereto in the presence of private and public sources of uncertainties. The private and public uncertainties associated with a geological asset or information associated therewith are defined, and private uncertainties are assigned a subjective probability representing the best state of knowledge currently available. A multi-dimensional valuation-time lattice is constructed using the subjective probabilities for the private uncertainties and using risk-neutral probabilities for the public uncertainties. A backward recursion through the multi-dimensional lattice is performed in order to generate a present value for the asset given the present information available. During the backward recursion, a tally of delta hedging coefficients is generated and stored in order to provide an operational “map” or “decision pathway” should the project move forward.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.