Introduction to Valuing Information in Unconventional Resources
Learn to frame and evaluate a wide variety of day-to-day energy industry value-of-information (VOI) problems, specifically in unconventional resources.
Attendees will be introduced to a step-wise approach to value information in resource plays and will work a few commonly encountered unconventional resource play information decision problems. Decisions around pre-frac data and valuing seismic at the program level for detecting sweet spots and high grading drilling locations and drilling order will be worked in multi-discipline breakouts. These will be interspersed with lectures and discussions. An overview of spacing pilot design framing and evaluation will also be covered.
Using VOI workflow software (DTrio) to guide the evaluation and the reference cases provided, attendees will learn how VOI decisions are set up and evaluated, sensitivities are performed on key input variables, and insight is gained to determine if and when new information can add value.Topics:
- Develop an understanding of the VOI workflow and its practical application
- Understand how VOI is an important aspect of asset management and decision analysis
- Learn how to frame and value information which may change “go/no go” asset decisions, and be introduced to how VOI affects “how to go” or optimization asset decisions
- Learn how to evaluate acquiring information in unconventional resource plays
Known throughout the industry, this course provides an overview of how to practically evaluate information decisions in unconventional resources quickly and correctly. The confidence you gain from information when considering unconventional resources justifies its cost.
Reservoir engineers, project managers, geologists, geophysicists, commercial analysts and economists, production, facility and drilling engineers working unconventional resources
Laptops are recommended but not required.
0.8 CEUs (Continuing Education Units) are awarded for this 1-day course.
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.
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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.
Ellen Coopersmith is the founder and president of Decision Frameworks, a consulting, training, and software practice focused on building decision capability in the energy industry. Prior to forming Decision Frameworks, Coopersmith worked 16 years at Conoco, the last five of which were focused on leading one of the industry’s most successful implementations of decision analysis and improved decision making. She is a published speaker on decision making and decision analysis implementation and has headed up her global practice for the past 14 years.
Coopersmith received a BS in petroleum engineering from the Colorado School of Mines.