This paper introduces a decision optimization procedure that can evaluate and rank hundreds of prospect development scenarios quickly. Sophisticated optimization techniques that include uncertainty analysis are combined with fully coupled reservoir simulation models and a surface production network.In an example, 12 prospects are evaluated together. Each prospect is multi-zone with varying physical parameters, where each prospect has an equal probability of success. This procedure represents a holistic approach that incorporates technical drilling constraints, full-cycle development costs, and economic evaluation. The methodology yields production profiles for a maximum of seven successes out of the 12 prospects. Production plateaus range from 5 to 20 years at rates ranging from 50,000 to 150,000 BOPD. More than 3,000 simulations, representing 60 development scenarios each covered by 64 uncertainty samples were executed for the integrated asset model. This method yields full-development cycle results and enables decision makers to screen potential projects quickly. This approach considers all possible scenarios under conditions of uncertainty to provide associated risks. The procedure can quickly be scaled from quite coarse subsurface models, e.g., "tanks", to higher-resolution models as new information is acquired.We present a rigorous method for the rapid evaluation of a portfolio of exploration prospects to benefit operators who perform early pre-screening of projects in their current portfolios or who are considering new business opportunities that require rapid and accurate evaluation. Strategic tendencies are quickly identified and enable integrated asset teams to focus on critical aspects of potential project performance.