Using Project Resource Analysis to Manage Your Business

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Disciplines: Completions | Drilling and Completions | Management | Production and Operations | Projects, Facilities, and Construction | Reservoir

Course Description

This course focuses on modeling a series of staged investments in an oil and gas project. The purpose of the staging (exploration, deliverability, demonstration, development) and stage gates are to responsibly expose incremental capital and make good decisions about whether to continue with the project or exit. Monte Carlo software is used to conduct rapid simulations that explore a wide range of possible scenarios based on project inputs and, most importantly, how much value the average well is expected to generate.

Topics:

• Stage design
• Aggregation
• Volumetrics
• Production forecasting
• Simulation
• Forecast validation

Learning Level

Intermediate

Course Length

2 Days

Why Attend

This course provides a probabilistic framework for assessing oil and gas projects regardless of their maturity. The focus is on capturing the key project components and their variability in an intuitive workflow and generating resource and economic metrics. This facilitates a more rigorous comparison of opportunities and better decisions about where to drill the next wells. This also increases portfolio value and helps ensure you don't squander capital on projects that are likely to be commercial failures.

Participants will learn how to conduct a fast, comprehensive, probabilistic assessment of their project regardless of the stage of maturity. The key benefits include quantifying the size of the prize volumetrically and economically, determining the uncertainties and risks that control the variance in production and profitability, and comparing projects using a set of standard metrics to determine which are most worthy of continued investment.

Who Attends

Engineers (reservoir, production, drilling, completions, facilities), geoscientists, managers, finance professionals, and executives.

Special Requirements

Participants will need to download software prior to attending the course in order to conduct Monte Carlo simulations, view the results, and discuss the implications. This will be software they can use for an additional 30 days before the license expires. Please provide accurate email when registering for the course so that the course administrator can provide you with download instructions. 

CEUs

0.8 CEUs (Continuing Education Units) are awarded for this 1-day course.

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

Other courses by these instructors