Refereed Journal Papers

Explore a selection of published, peer-reviewed journal papers by Reidar B. Bratvold. Each represents a significant contribution to the field and reflects the rigorous research and academic dedication that define his work.

2025

A Machine Learning-Assisted Decision-Making Methodology Based on Simplex Weight Generation for Non-Dominated Alternative Selection

Bratvold. R.B.

Decision Analysis.

Geosteering Robot Powered by Multiple Probabilistic Interpretation and Artificial Intelligence: Benchmarking Against Human Experts

Bratvold. R.B.

SPE Journal, 1-15.

2024

High-precision geosteering via reinforcement learning and particle filters

Bratvold. R.B.

arXiv preprint.

Sequential drilling decisions based on explicit joint probability distribution of spatially distributed subsurface data: Modeling and value creation propositions.

Morosov. A.L.

2023

Field features do not explain greenfield production forecasting bias

Nesvold. E. and Bratvold. R.B.

SPE Journal.

A supplier selection model using triangular fuzzy-grey numbers

Zakeri. S., Konstantas. D., Bratvold. R.B. and Pamucar. D.

IEEE Access.

Optimal sequential decision-making in geosteering: A reinforcement learning approach

Muhammad. R.B., Alyaev. S. and Bratvold. R.B.

arXiv preprint.

An exposition of least square Monte Carlo approach for real options valuation

Ahmadi. R. and Bratvold. R.B.

Geoenergy Science and Engineering.

2019

A decision support system for multi-target geosteering

Alyaev. S., Suter. E., Bratvold. R.B., Hong. A., Luo. X. and Fossum. K.

Journal of Petroleum Science and Engineering.

The Option Value of Refracturing Oil Wells: Implementation in a Binomial Lattice

Jafarizadeh. B. and Bratvold. R.B.

SPE Journal.

Exploration economics: taking opportunities and the risk of double-counting risk

Jafarizadeh. B. and Bratvold. R.B.

Mineral Economics.

2018

Fast Analysis of Optimal IOR Switch Time Using a Two-Factor Production Model and Least-Squares Monte Carlo Algorithm

Hong. A.J., Bratvold. R.B. and Lake. L.

SPE Reservoir Evaluation & Engineering.

Drill and Learn: A decision making workflow to quantify Value of Learning

Hanea. R., Casanova. P., Hustoft. L., Bratvold. R.B., Leeuwenburgh. O., Nair. R., Hewson. C. and Fonseca.

SPE Reservoir Evaluation & Engineering.

Value-of-information for model parameter updating through history matching

Hong. A.J., Bratvold. R.B., Thomas. P. and Hanea. R.G.

Journal of Petroleum Science and Engineering 165 (2018) 253–268.

Sequential Geosteering Decisions for Optimization of Real-Time Well Placement

Kullawan. K., Bratvold. R.B. and Bickel. J.E.

Journal of Petroleum Science and Engineering, 165 (2018) 90–104.

2017

The Net-Present-Value Paradox: Criticized by Many, Applied by All

Willigers. B., Jones. B. and Bratvold. R.

SPE Economics & Management. SPE-187937-PA.

2016

Maximising the Value of Unconventional Reservoirs by Choosing the Optimal Appraisal Strategy

Willigers. B.J.A., Bratvold. R.B. and Bickel. J.E.

SPE Reservoir Evaluation & Engineering-Formation Evaluation

Value Creation with Multi-Criteria Decision Making in Geosteering Operations

Kullawan. K., Bratvold. R.B. and Bickel. J.E.

International Journal of Petroleum Technology 3 (01): 15-31.

Hot spot hunting: Optimising the staged development of shale plays

Willigers. B.J.A., Begg. S.H. and Bratvold. R.B.

Journal of Petroleum Science and Engineering

Decision-Oriented Geosteering and the Value of Look-Ahead Information: A Case-Based Study

Kullawan. Kanokwan, Bratvold. R.B. and Nieto. Camilo M.

SPE Journal (2016).

Appraising unconventional resources: How many wells to drill and where to place them?

Willigers. B.J.A., Begg. S.H. and Bratvold. R.B.

SPE Reservoir Evaluation & Engineering-Formation Evaluation 19, 340-349

2015

Oil and gas exploration valuation and the value of waiting

Jafarizadeh. B. and Bratvold. R.B.

The Engineering Economist, 60(4), 245-262.

Value Creation with Multi-Criteria Decision Making in Geosteering Operations

Kullawan. K., Bratvold. R. and Bickel. J.E.

Paper submitted for publication in the Journal of Petrol. Science and Engineering.

2014

Combining Geostatistics With Bayesian Updating To Continually Optimize Drilling Strategy in Shale-Gas Plays

Willigers. B.J.A., Begg. S. and Bratvold. R.B.

Society of Petroleum Engineers. doi:10.2118/164816-PA.

A Decision Analytic Approach to Geosteering Operations

Kullawan. K., Bratvold. R. and Bickel. J.E.

Society of Petroleum Engineers. doi:10.2118/167433-PA

The Risk of Using Risk Matrices

Thomas. P., Bratvold. R.B. and Bickel. J.E.

SPE Econ & Mgmt 6 (2): 56-66.

2013

Sell Spot or Sell Forward? Analysis of Oil Trading Decisions Using the Two-Factor Price Model and Simulation

Jafarizadeh. B. and Bratvold. R.B.

SPE Econ & Mgmt 5 (3): 80-88.

2012

Two Factor Oil Price Model and Real Option Valuation: An Example of Oil Field Abandonment

Jafarizadeh. B. and Bratvold. R.B.

SPE Econ & Mgmt 4 (3): 158-170.

Information acquisition as an American option

Jafarizadeh. B.

Energy Economics, 34(3), 807–816.

2011

Valuation of Swing Contracts by Least-Squares Monte Carlo Simulation

Willigers. B.J.A., Begg. S.H. and Bratvold. R.B.

SPE Econ & Mgmt 3 (4): 215-225. http://dx.doi.org/10.2118/133044-PA.

Probabilistic Modeling for Decision Support in Integrated Operations

Giese. M. and Bratvold. R.B.

SPE Econ & Mgmt 3 (3): 173-185. SPE-127761-PA.

Game Theory in the Oil and Gas Industry

Bratvold. R.B. and Koch. F.

SPE TWA 7 (1): 18-20.

2010

Uncertainty and preferences in a joint E&P development program analyzed in a game theoretic framework

Willigers. B.J.A., Hausken. K. and Bratvold. R.B.

Journal of Petroleum Science and Engineering 74, 1-2, 88-98.

2009

A Game Theoretic Approach to Conflicting and Evolving Stakeholder Preferences in the E&P Industry

Willigers. B.J.A., Bratvold. R.B. and Hausken. K.

SPE Economics & Management.

Valuing Oil and Gas Options by Least-Squares Monte Carlo Simulation

Willigers. B.J.A. and Bratvold. R.B.

SPE Projects, Facilities & Construction.

Value of Information: The Past, Present, and Future

Bratvold. R.B., Bickel. E.J. and Lohne. H.P.

SPE Reservoir Evaluation and Engineering, August 2009.

Would You Know a Good Decision if You Saw One?

Bratvold. R.B. and Begg. S.H.

SPE TWA 5 (2): 21–23.

2008

Decision Making in the Oil & Gas Industry: From Blissful Ignorance to Uncertainty - Induced Confusion

Bickel. E.J. and Bratvold. R.B.

ENERGY EXPLORATION & EXPLOITATION 26(5), 311–325.

I would rather be vaguely right than precisely wrong: A new approach to decision making in the petroleum exploration and production industry

Bratvold. R.B. and Begg. S.H.

AAPG Bulletin 92(10), 1373–1392.

2007

Copulas: A New Technique to Model Dependence in Petroleum Decision Making

Al-Harthy. M., Begg. S. and Bratvold. R.B.

J. Pet. Sci. Eng. 57(1–2), 195–208.

2006

Investment Decisions, Systems Approach vs. Sequential Approach: Do Functional Dependencies And Interactions Matter?

Al-Harthy. M., Khurana. A., Begg. S. and Bratvold. R.B.

APPEA Journal 46(1), 511–524.

2004

The Value of Flexibility

Begg. S. and Bratvold. R.

Southern China Oil & Gas Journal 17(4).

1995

STORM: Integrated 3D Stochastic Reservoir Modeling Tool for Geologists and Reservoir Engineers

Bratvold. R.B., Holden. L., Svanes. T. and Tyler. K.

SPE Computer Applications 7(3), 58–68.

1994

Effects of Propagating Fractures on Pressure-Transient Injection and Falloff Data

Larsen. L. and Bratvold. R.B.

SPE Formation Evaluation.

1990

Analysis of Pressure Falloff Tests Following Cold Water Injection

Bratvold. R.B. and Horne. R.N.

SPE Formation Evaluation September, 203–302.

1987

Semilog Analysis of Gas Well Drawdown and Buildup Data

Reynolds. A.C., Bratvold. R.B. and Ding. W.

SPE Formation Evaluation December, 657–670.

Analyzing Expert Decision-Making in Geosteering: Statistical Insights from a Large-Scale Controlled Experiment

Cheraghi. Y., Alyaev. S., Bratvold. R.B., Hong. A., Kuvaev. I., Clark. S. and Zhuravlev. A.

Available at SSRN 4951357.