by Eric Bickel, James E. Smith and Jennifer L. Meyer
In this paper [$], Professor Eric Bickel, Professor Jim Smith (Duke University) and SDG’s Jennifer Meyer present the methodology they developed to determine the optimal order in which to drill exploration wells. This common problem had only been addressed in an ad hoc manner prior to this work. This spreadsheet can be used to help implement this methodology.
Published in 2008 in SPE Reservoir Evaluation & Engineering. The summary is free and the paper is available for purchase at this link.