Influence of Environmental Risk on the Financial Structure of Oil and Gas Projects

The risk profile of a Build-Operate-Transfer (BOT) project affects its debt service ability. In particular, the total risk profile of an oil and gas project is heavily influenced by its environmental risk exposure. However, this risk is often not given a considerable weight in risk analysis, resulting in underestimation of project's total riskiness and consequent overestimation of the debt capacity. This study is aimed at understanding the dependence of the capital structure of oil and gas BOT projects on environmental risk exposure and proposes a methodology for incorporating such important risk into the total risk rating process to determine the debt leverage. As a result, it is shown that integrating environmental risks into the risk score of a project yields higher values of risk exposure, which may lead to a lower debt-to-equity ratio

Effective string description of confining flux tubes

We review the current knowledge about the theoretical foundations of the effective string theory for confining flux tubes and the comparison of the predictions to pure gauge lattice data. A concise presentation of the effective string theory is provided, incorporating recent developments. We summarize the predictions for the spectrum and the profile/width of the flux tube and their comparison to lattice data. The review closes with a short summary of open questions for future research.Comment: 21 pages, 8 figures, Contribution to IJMPA special issue "Lattice gauge theory beyond QCD

Molecular correlations and solvation in simple fluids

We study the molecular correlations in a lattice model of a solution of a low-solubility solute, with emphasis on how the thermodynamics is reflected in the correlation functions. The model is treated in Bethe-Guggenheim approximation, which is exact on a Bethe lattice (Cayley tree). The solution properties are obtained in the limit of infinite dilution of the solute. With $h_{11}(r)$, $h_{12}(r)$, and $h_{22}(r)$ the three pair correlation functions as functions of the separation $r$ (subscripts 1 and 2 referring to solvent and solute, respectively), we find for $r \geq 2$ lattice steps that $h_{22}(r)/h_{12}(r) \equiv h_{12}(r)/h_{11}(r)$. This illustrates a general theorem that holds in the asymptotic limit of infinite $r$. The three correlation functions share a common exponential decay length (correlation length), but when the solubility of the solute is low the amplitude of the decay of $h_{22}(r)$ is much greater than that of $h_{12}(r)$, which in turn is much greater than that of $h_{11}(r)$. As a consequence the amplitude of the decay of $h_{22}(r)$ is enormously greater than that of $h_{11}(r)$. The effective solute-solute attraction then remains discernible at distances at which the solvent molecules are essentially no longer correlated, as found in similar circumstances in an earlier model. The second osmotic virial coefficient is large and negative, as expected. We find that the solvent-mediated part $W(r)$ of the potential of mean force between solutes, evaluated at contact, $r=1$, is related in this model to the Gibbs free energy of solvation at fixed pressure, $\Delta G_p^*$, by $(Z/2) W(1) + \Delta G_p^* \equiv p v_0$, where $Z$ is the coordination number of the lattice, $p$ the pressure, and $v_0$ the volume of the cell associated with each lattice site. A large, positive $\Delta G_p^*$ associated with the low solubility is thus reflected in a strong attraction (large negative $W$ at contact), which is the major contributor to the second osmotic virial coefficient. In this model, the low solubility (large positive $\Delta G_p^*$) is due partly to an unfavorable enthalpy of solvation and partly to an unfavorable solvation entropy, unlike in the hydrophobic effect, where the enthalpy of solvation itself favors high solubility, but is overweighed by the unfavorable solvation entropy.Comment: 9 pages, 2 figure

Spectrum in the broken phase of a λϕ4\lambda\phi^4 theory

We derive the spectrum in the broken phase of a $\lambda\phi^4$ theory, in the limit $\lambda\to\infty$, showing that this goes as even integers of a renormalized mass in agreement with recent lattice computations.Comment: 4 pages, 1 figure. Accepted for publication in International Journal of Modern Physics

Pose and Shape Reconstruction of a Noncooperative Spacecraft Using Camera and Range Measurements

Recent interest in on-orbit proximity operations has pushed towards the development of autonomous GNC strategies. In this sense, optical navigation enables a wide variety of possibilities as it can provide information not only about the kinematic state but also about the shape of the observed object. Various mission architectures have been either tested in space or studied on Earth. The present study deals with on-orbit relative pose and shape estimation with the use of a monocular camera and a distance sensor. The goal is to develop a filter which estimates an observed satellite's relative position, velocity, attitude, and angular velocity, along with its shape, with the measurements obtained by a camera and a distance sensor mounted on board a chaser which is on a relative trajectory around the target. The filter's efficiency is proved with a simulation on a virtual target object. The results of the simulation, even though relevant to a simplified scenario, show that the estimation process is successful and can be considered a promising strategy for a correct and safe docking maneuver

Computing General Relativistic effects from Newtonian N-body simulations: Frame dragging in the post-Friedmann approach

We present the first calculation of an intrinsically relativistic quantity in fully non-linear cosmolog- ical large-scale structure studies. Traditionally, non-linear structure formation in standard {\Lambda}CDM cosmology is studied using N-body simulations, based on Newtonian gravitational dynamics on an expanding background. When one derives the Newtonian regime in a way that is a consistent ap- proximation to the Einstein equations, a gravito-magnetic vector potential - giving rise to frame dragging - is present in the metric in addition to the usual Newtonian scalar potential. At leading order, this vector potential does not affect the matter dynamics, thus it can be computed from Newtonian N-body simulations. We explain how we compute the vector potential from simulations in {\Lambda}CDM and examine its magnitude relative to the scalar potential. We also discuss some possible observable effects.Comment: 5 pages, 3 figur

Budget Imbalance Criteria for Auctions: A Formalized Theorem

We present an original theorem in auction theory: it specifies general conditions under which the sum of the payments of all bidders is necessarily not identically zero, and more generally not constant. Moreover, it explicitly supplies a construction for a finite minimal set of possible bids on which such a sum is not constant. In particular, this theorem applies to the important case of a second-price Vickrey auction, where it reduces to a basic result of which a novel proof is given. To enhance the confidence in this new theorem, it has been formalized in Isabelle/HOL: the main results and definitions of the formal proof are re- produced here in common mathematical language, and are accompanied by an informal discussion about the underlying ideas.Comment: 6th Podlasie Conference on Mathematics 2014, 11 page

Dirac Equation in Kerr-NUT-(A)dS Spacetimes: Intrinsic Characterization of Separability in All Dimensions

We intrinsically characterize separability of the Dirac equation in Kerr-NUT-(A)dS spacetimes in all dimensions. Namely, we explicitly demonstrate that in such spacetimes there exists a complete set of first-order mutually commuting operators, one of which is the Dirac operator, that allows for common eigenfunctions which can be found in a separated form and correspond precisely to the general solution of the Dirac equation found by Oota and Yasui [arXiv:0711.0078]. Since all the operators in the set can be generated from the principal conformal Killing-Yano tensor, this establishes the (up to now) missing link among the existence of hidden symmetry, presence of a complete set of commuting operators, and separability of the Dirac equation in these spacetimes.Comment: 11 pages, no figure

Unavoidable Conflict Between Massive Gravity Models and Massive Topological Terms

Massive gravity models in 2+1 dimensions, such as those obtained by adding to Einstein's gravity the usual Fierz-Pauli, or the more complicated Ricci scalar squared ($R^2$), terms, are tree level unitary. Interesting enough these seemingly harmless systems have their unitarity spoiled when they are augmented by a Chern-Simons term. Furthermore, if the massive topological term is added to $R + R_{\mu\nu}^2$ gravity, or to $R + R_{\mu\nu}^2 + R^2$ gravity (higher-derivative gravity), which are nonunitary at the tree level, the resulting models remain nonunitary. Therefore, unlike the common belief, as well as the claims in the literature, the coexistence between three-dimensional massive gravity models and massive topological terms is conflicting.Comment: 13 pages, no figure