Project Risk, Uncertainty and Decision Analysis - Intermediate


Disciplines: Management | Projects, Facilities and Construction

Course Description

In this course, you’ll learn to apply risk and uncertainty management principles to decision quality analysis in the development of oil and gas reserves. On the first day, we set the background with statistics and probabilities, estimating under uncertainty and probabilistic reserves estimation principles. The second day features ways to determine the chance of geological and commercial success, and the use of decision trees to assess the value of new information.

Topics:

  • Distribution types and when to use what
  • The central limits theorem
  • Estimating under uncertainty
  • Estimating volumetric reserves, saturations and net pay
  • The value of perfect Information - seismic example
  • The value of imperfect information

Learning Level

Intermediate

Course Length

2 Days

Why Attend

This class is an excellent way to gain a lot of ground professionally in a short amount of time. If you’d rather be making the decisions than carrying them out, this course is for you.

Who Attends

This course is for anyone who is involved with making quality decisions about the development of subsurface hydrocarbon accumulations.

CEUs

1.6 CEUs (Continuing Education Units) are awarded for this 2-day course.

Additional Resources

This course has a supplemental book located in our SPE Bookstore entitled Making Good Decisions. Please check out this valuable resource!

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructors

James (Jim) Gouveia, BaSc, Chemical Engineering, University of Toronto
Mr. Gouveia 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 planning, and risk management.  Prior to BP's acquisition of Amoco in 1999, Mr. Gouveia was a 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 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 world-wide 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 is 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, the Middle East, S.E. Asia and Australia on the resource, reserve and economic evaluation of their Unconventional assets.  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 185077, 175527, 175888 & 121525.  Mr. Gouveia is a member of APEGA, SPE, SPEE and AAPG.  Mr. Gouveia is a partner in Rose & Associates.

Mark A. McLane is a Partner with Rose and Associates. He has a diverse technical, operations and business background spanning more than 35 years in the petroleum industry. He joined Rose & Associates in January 2000 after three years with Pioneer Natural Resources and 17 years with Exxon Company, USA. He has coauthored several technical papers and served on the Professional Ethics/Registration Panel at the 2003 SPE ATCE in Denver, Colorado. He is an SPE Distinguished Lecturer on the topic of "Reserve Overbooking—An Issue of Professional Ethics" and has taught courses for the SPE, AAPG, EAGE and Houston Geological Society. He has also served as a Guest Lecturer for graduate petroleum engineering programs at Texas A&M University and The University of Houston. Mark holds a BS with honors in petroleum engineering from The University of Texas at Austin.

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