Making Good Decisions

Reidar B. Bratvold and Steve H. Begg
Making Good Decisions


Making strategic and tactical decision about your company's future - oil and gas field developments, selection drilling locations, initiating seismic and reservoir studies, company acquisitions and R & D investments - is often a complex process with highly uncertain outcomes and consequences. Knowing how to make good decisions is essential whether you are a decision maker or providing information to support decision makers. This book is essential reading for technical professionals and managers alike - you might even find some good tips for making personal decisions!


Decision making and uncertainty in the exploration and production industry
How to make good decisions
Quantifying uncertainty
Monte Carlo simulation
Structuring and solving decision problems
Creating value from uncertainty
Behavioral challenges in decision making

“I recommend this book for all E&P professionals interested in decision analysis—regardless of background. Reading it was a pleasure, and I found myself looking forward to each concept explanation and the next application example. For me, buying and reading the book was a good decision.”

John Schuyler

Buy the book at Society of Petroleum Engineers