Unconventional Resource Assessment and Valuation Reservoir Descriptions and Dynamics

Please note: This course was previously titled: Risk, Uncertainty, and Economic Analysis in Shale and Tight Reservoirs

Instructor(s): This course will be taught by a combination of instructors listed below from Rose & Associates

Description

This course covers the assessment methods required for the technical and economic evaluation of unconventional resources. The premise for this course is that sound estimation of key engineering, geotechnical, and economic parameters is essential for maximizing profitability. Unlike traditional deterministic methods which call for the ongoing study of key parameters to get ever closer to “the answer,” probabilistic methods recognize that most parameters are fraught with uncertainty.

Topics Include:

  • Introduction to probability and statistics—the language of uncertainty
  • Estimating under uncertainty
  • Tight reservoir characteristics and assessment
  • Shale characteristics and assessment
  • Resource and reserve estimation
  • Production forecasting
  • Decision trees and the value of information
  • Unconventional resource assessment—sampling issues

Learning Level

Intermediate

Course Length

4 Days

Why You Should Attend

The course provides an assessment process for selecting the unconventional resource plays that best meet your company’s goals. You will learn characterization and valuation of the plays, and the importance of assessing reserves at a project and type well level. You will also learn how to make predictions based on limited data sets and which reservoir engineering fundamentals shape assessment of well spacing.

Who Should Attend

The course is designed for engineers, commercial team members, business analysts, and managers that are charged with creating value.

Special Requirements

None

CEUs

3.2 CEUs (Continuing Education Units) will be awarded for this 4-day course.

Cancellation
Policy

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to trainingcourses@spe.org; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.

For more details, please contact us at trainingcourses@spe.org.

Instructors

James (Jim) Gouveia (BaSc, Chemical Engineering, University of Toronto) is a registered Professional Engineer with a diverse technical, business and operations background in the petroleum industry. He joined Rose & Associates in March, 2002 after 21 years with Amoco and BP Energy. Mr. Gouveia has worked in a variety of technical and managerial assignments in exploration, production and reservoir engineering, strategic and business process planning, portfolio and risk management. Prior to BP's acquisition of Amoco in 1999, Mr. Gouveia was Director of Risk Management for the Amoco Energy Group of North America. In this role he was accountable for assurance of consistent project evaluation of all major capital projects. In his last roles Mr. Gouveia led BP's strategic initiative into unconventional gas resources in Western Canada. With BP, he was a member of several task forces including a worldwide task force focused on growth initiatives in mature basins and developing a portfolio management process for BP's North American unconventional gas assets. Mr. Gouveia has been a key author in the development of Rose & Associates course on the assessment of Unconventional resource plays. He has consulted with firms in North America, South America, S.E. Asia and Australia on the resource, reserve and economic evaluation of their Unconventional assets. He regularly presents technical talks at the SPEE annual meetings and local SPE chapters. Mr. Gouveia has co-authored and presented papers, most recently as a contributing author to the SPEE’s 2011 Monograph 3, “Guidelines for the practical evaluation of undeveloped reserves in Resource plays”, and SPE 121525, “A Statistical Approach to the Effective Economic Modeling and Portfolio Selection of Unconventional Resource Opportunities”. Mr. Gouveia is a member of APEGA, SPE, SPEE and AAPG. Mr. Gouveia is a partner in Rose & Associates.

Abhi Manerikar (BSc Geophysics (Hon), University of Calgary), has over 28 years’ experience in a variety of geologic settings, exploration plays, and basin types and has successfully explored for hydrocarbons on every continent except Antarctica. He is a registered Professional Geophysicist and has held a variety of technical and management positions including Chief Geophysicist with Crestar Energy and Gulf Canada, Exploration Manager Canadian Frontiers with Conoco, Vice President Global Portfolio, and Vice President Exploration in Norway and Peru with Talisman Energy. In addition to his geophysical and management experience in both exploration and development projects, he has helped implement probabilistic risk analysis and portfolio management, led global peer review teams and championed play-based exploration strategy in a number of basins. As a prospect generator, peer reviewer, and manager, he has experienced the difficulties inherent in properly characterizing the risk and resource potential of plays and prospects, correctly representing the value of an opportunity, and the corporate drivers that may influence the outcome. He has consistently used probabilistic risk analysis to improve exploration performance in areas as varied as prospect definition, drilling time and cost estimates, gate reviews for development projects and portfolio selection.

He is a registered Professional Geophysicist with APEGA, and a member of the AAPG, SEG, CSEG and PESGB professional societies. Mr. Manerikar is a Senior Associate with Rose & Associates.