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The loghyperbolic: An alternative to the lognormal for modeling oil field size distribution |
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| Authors: | S. Javad Seyedghasemipour and B. B. Bhattacharyya |
| Affiliation: | (1) Operations Research Department, North Carolina State University, 27607 Raleigh, North Carolina;(2) Present address: Operations Research, Burroughs Wellcome Co., 27835 Greenville, North Carolina;(3) Statistics Department, North Carolina State University, 27607 Raleigh, North Carolina |
| Abstract: | The lognormal distribution is widely used to represent the distribution of deposit or reserve size of oil and gas fields. The purpose of this paper has been to investigate the potential usefulness of the loghyperbolic distribution as an alternative to the lognormal distribution. This hypothesis is tested using a set of data from the Denver basin. The results indicate that the loghyperbolic distribution shows a better fit to the empirical data than the lognormal distribution. |
| Keywords: | oil gas field size distribution loghyperbolic lognormal maximum likelihood estimation |
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