This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. Packed with real-world examples and case studies demonstrating how to calculate rate of return, discounted cash flow, payout period, and more, Petroleum Economics and Engineering, Third Edition assists petroleum engineers, chemical engineers, production workers, management, and executives in sound economic...