Utility Efficient Frontier: An Application in the Oil and Gas Industry

Current practice shows that the use of portfolio and utility theory is very low among petroleum companies. This article advocates the use of both portfolio theory and utility theory as decision-making tools to improve performance of oil and gas companies. We introduce a model that can be practically used and applied in the oil and gas industry. This model generates an optimized, efficient portfolio and, at the same time, enables the decision maker to incorporate his risk attitude and policy. This can only be done by combining both the portfolio theory and utility theory through an approach called the utility mean-variance model. A typical oil portfolio optimization problem is investigated by applying both portfolio and utility theories. Through the utility mean-variance model, an efficient frontier that captures decision maker risk attitude is achieved.     

The geological evolution of southern McMurdo Sound — new evidence from a high-resolution aeromagnetic survey

Magnetic anomaly data are presented from a new helicopter-borne high-resolution aeromagnetic survey in southern McMurdo Sound. Anomaly data have been acquired at a common 305 m elevation above the McMurdo and southern McMurdo ice shelves and draped over the volcanic islands that pin them. The resulting anomaly patterns provide a significant advance in the understanding of the rift related geology beneath the floating ice shelves. More extensive Erebus Volcanic Province (McMurdo Volcanic Group) rocks are indicated along with a significant blanket of glaci-volcaniclastic sediment on the seafloor between the volcanic islands in southern McMurdo Sound. These glaci-volcaniclastic sediments are inferred to originate from former grounding of the southern McMurdo Ice Shelf as a marine ice sheet. A strong N–S fabric is also observed in the anomaly data suggesting that the rift structure observed in the Victoria Land basin persists to the south beneath the McMurdo and southern McMurdo ice shelves. W–N–W transfer faults identified within the Transantarctic Mountain rift flank to the west are not obvious in the aeromagnetic data set, implying that the 'Discovery Accommodation Zone' may be restricted to the region between a southward extension of the range bounding fault that marks the limit of the Victoria Land Basin and the right lateral offset in the Transantarctic Mountain front in southern Victoria Land.     

Spatial variability and non-linearity of strong ground motion near a fault

We present observations of ground accelerations recorded at a small array close to the fault during the Düzce earthquake and its early aftershocks. The records show the strong spatial variability of ground acceleration over distances of only a few hundred metres. During the main shock, the peak horizontal acceleration values ranged from 0.3 to about 1.0 g at stations distant of 1.5 km only. We attribute this spatial variability to a fault zone site effect as peak ground acceleration steadily increases as the distance to the fault trace decreases. The spectral ratio between the ground motion recorded near the fault and the one outside the fault zone shows a shift of the spectral peak to lower frequencies with increasing peak accelerations. Such an observation suggests a non-linear behaviour of the fault zone due to the strong ground shaking. As much as a 45 per cent reduction in the shear wave velocity is necessary for the observed shifts. The opening of pre-existing cracks throughout the fault zone is the proposed mechanism to account for the observed shear wave reductions. The observation that elastic fault zone properties are soon recovered following episodes of large strains shows that cracks and fissures close rapidly after the strong shaking is over.     

Statistical properties of seismicity of fault zones at different evolutionary stages

We perform a systematic parameter space study of the seismic response of a large fault with different levels of heterogeneity, using a 3-D elastic framework within the continuum limit. The fault is governed by rate-and-state friction and simulations are performed for model realizations with frictional and large scale properties characterized by different ranges of size scales. We use a number of seismicity and stress functions to characterize different types of seismic responses and test the correlation between hypocenter locations and the employed distributions of model parameters. The simulated hypocenters are found to correlate significantly with small L values of the rate-and-state friction. The final sizes of earthquakes are correlated with physical properties at their nucleation sites. The obtained stacked scaling relations are overall self-similar and have good correspondence with properties of natural earthquakes.     

Comprehensive Multi-Level Exploration of Buried Active Faults： an Example of the Yinchuan Buried Active Fault

The paper introduces the steps and methods of multi-approach,multi-level exploration of buried faults in thick Quaternary sediment regions by taking the test exploration of the Yinchuan active fault as example.Based on the comprehensive analyses of previous data,we choose the Xinqushao Village of Xingqing District of Yinchuan City as the test site for the comprehensive exploration.Firstly,we adopted shallow seismic investigation with group intervals of 10m,5m and 1m to gradually trace layer by layer the master fault of the Yinchuan buried fault from a deep depth to a shallow depth where drilling could be used.Then,with composite geological profile drilling,we determined the precise location and dip angle of the fault.The drilling show the buried depth of the upper offset point is 8.3m.Finally,large-scale trenching revealed that the actual buried depth of the upper offset point of the fault is 1.5m from the ground surface and there are paleoearthquake events of 5 stages.Combined with the preliminary result of corresponding sample age,we conclude the Yinchuan buried fault is a mid to late Holocene active fault.     

高分辨率浅层人工地震勘探探测隐伏断裂实例

利用高分辨率浅层地震勘探反射波法探测了福建某火电厂场址内的隐伏断裂。结果表明断裂显示清楚,为一走向NE40~55°,上断点埋深为11 m和31 m,断距2~4 m的正断层,为工程避让提供较可靠的依据。     

GPS测时在电力系统中的应用

介绍了利用GPS测时及时间传递的几种方式，详细地讨论了GPS用在电压相角测量，输电线路故障定位以及线路网损和电能结算系统几个方面的应用原理，设计出应用的方案，并得到部分结果。