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"Very useful information. Helps me understand the big picture."
Ross Hancock, Mechanical Facilities Engineer
"I really enjoyed learning about real options. I also found the in-class working problems effective. Dr. Dyer's ability to field questions was great."
Jarrad Bourger, Senior Staff Analyst
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Decision & Risk Analysis in Hydrocarbon Exploration and Production
Learn how to approach modeling decisions and uncertainties that arise in oil and gas project management. These risks include those associated with estimates of hydrocarbon reserves and recovery rates, and the economic risks related to investment costs and oil prices.
We'll begin with a brief review of risk analysis as it relates to the production of hydrocarbons over the life of an oil field. Next, we will review economic modeling, and then illustrate how these risks should also be incorporated into decision making in oil and gas investments. We'll emphasize the use of information and options to enhance economic value and to manage project risks.
We'll illustrate these ideas with examples and case studies. We'll also demonstrate experience with some of the software tools that support the analysis of problems.
- Review economic modeling and understand how risks should be incorporated into decision making in oil and gas investments
- Understand how to frame the decision opportunity (decision hierarchies and strategy tables)
- Model complex projects with influence diagrams
- Learn how to do deterministic sensitivity analysis (Tornado Diagrams)
- Develop skills using decision trees as a means of structuring risky problems
- Learn how to use information and options to enhance economic value and to manage project risks
- Use provided examples and case studies to apply the concepts learned
- Use some of the software tools that support the analysis of risky decision problems (participants will be encouraged to use personal laptops)
||Decision & Risk Analysis in Hydrocarbon Exploration and Production
||DoubleTree Hotel Houston Intercontinental Airport, 15747 John F. Kennedy Blvd.
Houston, Texas 77032
||1-day program: 8:30 a.m. - 4:30 p.m.
||Jim Dyer, Ph.D.
||$1,395 - Single Program
$7,350 - Energy Certificate
The program fee includes all materials, lunch, and refreshments during breaks.
Registration is not complete until payment is received.
Early registration is encouraged. Class size is limited and may fill to capacity. We request registrations with payment at least three weeks in advance of the program start date To register, click the Enroll button above or Contact Us.
Continuing Education Units (CEUs and CPEs)
Participants earn 0.7 CEUs and/or 7 CPEs for this course. A certificate of completion will be presented from Texas Executive Education.