How to set a risk factor on an oil price with an input filter

Input filters can be used for various reasons and mathematical functions. This examples explores the use of an input filter to reduce the oil price by a percentage which represents a risk factor on the price.

Randy Strauss
13 steps
55 seconds

Select the Asset panel. Havin opened a Study, you should already be focused on this panel.

Select the Asset whose oil price is going to be risked.

Select the Price and Production Tax form tab and right-click on the oil price digital stream.

Select the Input Filter Option. The ellipse, ..., indicates that there is a dialogue to follow this selection.

Select the math operation on the left of the text box to change the math operation. The operations are addition,+, subtraction, -, and multiplication, *. Observe that multiplication removes the ability to select units on the right side of the text box.

Select the math operation until the * for multiplication is present.

Select the text box to input the probability of success factor for the oil price. Since the remaining oil price is wanted, the factor will be 1 - risk factor.

input the factor .85.

With the factor the desired number, select the Set button or, as in the example the Set button is already selected, press the Enter key.

Observe that the oil price is now in italics. This indicates that the oil price has a transform applied to it.

Select the oil1 price header and the digital stream displays the adjusted prices. Observe that the header has a gray background.

Select the header again and the digital stream displays the original prices again. The oil1 price is black text because it is local to the Asset and not inherited like gas1 price.

Select a cell in the oil price digital stream and select the F4 button. The Data Item Identification dialogue will appear presenting the type#instance of the data item , the units the stream is stored in (when applicable) and the transforms applied to the data item. Select the Close button to return to the form.