01425nab a2200193 4500 20260520001751.0 260224s2009 xxu A methodology to evaluate an option to defer an oilfield development mayo 2009 07/06/2010 ; 07/06/2010 8 p. ; 60-68 Transcripción del resumen del autor. The purpose of this paper is the valuation of an option to defer an oilfield development. A methodology is implemented in order to choose the appropriate continuous-time stochastic processes for these risk factors: the crude oil price, the convenience yield and the risk-free interest rate. The analysis reveals that the convenience yield follows a mean-reverting process, the oil price is better fitted by the Geometric Brownian Motion with jumps and the risk-free interest rate can be considered constant. The valuation of the option to defer is based on the Monte-Carlo simulation adapting the Least-Squares simulation method for valuing American type options. Results indicate that using multi-factor pricing models leads to reject the project unlike the one-factor pricing model which leads to later investing at the option maturity. 1-2 Journal of Petroleum Science & Engineering 66 ARTICULO Abid, Fathi 42205 Kaffel, Bilel 42206 170755 170755 0 0 0 0 238574 BAAB BAAB 2026-03-05 200045608 0 200045608 2026-03-05 15:12:55 2026-03-05 ARTICULO