Here are analytical approaches for reserves replacement planning

This article concludes a three part series on reserves replacement planning. The first article reviewed the performance of 82 large US based E and P companies and found that the larger they were, the greater their per barrel profitability but the lower their reserves replacement ratio, raising the question of whether long term viability (reserves replacement) conflicts with profitability. The second article examines the difficulties in reserves replacement planning and the accommodates many companies make to overcome these difficulties--accommodations that tend to compromise reserves replacement decision making. It concluded by suggesting an analytical structure that could contribute to improved approaches. This article describes those improved methods.