SC 04: Mastering Uncertainty and Risk in Unconventional Reservoir Assessment (Shale, Coals, Tight Sandstones, and Carbonates) (SPE)
Monday, 12 June 2023, 9:00 a.m.–6:00 p.m. | Denver, Colorado
Who Should Attend
This course is intended for geoscientists, engineers, commercial team members, business analysts, and managers charged with creating value from their unconventional projects.
This course provides a probabilistic framework for assessing uncertainty and risk in unconventional oil and gas projects. Participants will learn:
- Products and workflows are needed to characterise their unconventional project
- The usage of statistics as a language for communicating uncertainty
- How aggregation reduces uncertainty and risk
- How a rigorous stage gate process incrementally exposes capital and helps you make better investment decisions
This one-day course provides a robust framework for assessing uncertainty and risk in unconventional projects. It begins by summarizing the key discipline-specific workflows and work products needed to characterize your project. It then introduces 1) statistics as a basis for applying probabilistic techniques, 2) approaches for estimating key parameters under uncertainty, and 3) techniques to mitigate bias in your work. The course then turns to using aggregation and its derivative products (trumpet plots, confidence curves, and sequential aggregation plots) to quantify the optimal number of appraisal wells and track your drilling progress. The course concludes by applying what’s been learned within a staged approach in order to expose capital incrementally and make good decisions along the way about whether to continue funding the project. Geoscientists, engineers, commercial team members, business analysts, and managers will all benefit from this course.
- Fee: Member $750 / Nonmember $950 / Student $300
- Limit: 40 Attendees
- Includes: One-day course with lecture, access to SPE's Learning Management System, class exercises and discussion, morning and afternoon refreshments and lunch. .08 CEUs (Continuing Education Units) are awarded for this one-day course.
Colorado Convention Center
700 14th St