The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 01, 2019
Filed:
Mar. 04, 2013
Schlumberger Technology Corporation, Sugar Land, TX (US);
David J. Wilkinson, Ridgefield, CT (US);
Nikita Chugunov, Arlington, MA (US);
William J. Bailey, Somerville, MA (US);
Benoit Couet, Belmont, MA (US);
Terizhandur S. Ramakrishnan, Boxborough, MA (US);
SCHLUMBERGER TECHNOLOGY CORPORATION, Sugar Land, TX (US);
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.