Upstream Asset Development and Operations

The oil and gas industry has always been cyclical. Competitive advantage will always belong to companies whose employees are not only technically competent but also capable of capitalizing on changing market conditions across value chains and the globe.

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Create technically sound and commercially attractive assets using design themes and product value chains. Achieve success through good planning and be prepared to adjust accordingly when reality intrudes and risk arise. Realize the ultimate value of acquiring and developing an upstream asset by delivering commercially successful production operations over the long term. And be prepared to capitalize on opportunities and be a leader in your industry. Complete this class along with “Strategic Considerations for Upstream Acquisition” to earn your Oil & Gas Immersion Certificate.


Learn and experience the critical decisions that must be made across the value chain to create enterprise value.

Three-Day Program

Registration begins at 9:30 a.m. and class runs 10:00 – 5:00 all three days with a one-hour lunch included.

BTS Consulting

Our partnership with BTS combines UT's academic research and a customized business simulation experience, developed by BTS, to practice concepts and apply learnings back on the job.


  • Develop the practical skills of designing, planning, executing, and operating economically attractive upstream assets
  • Evaluate opportunities and risks for various hydrocarbons through Concept Selection
  • Execute a development strategy incorporating commercial considerations around markets, contracts, pricing, and partnerships
  • Discuss Stage-Gate fundamentals and other industry models that guide the development process
  • Utilize FEED, EPC, and risk management considerations during project planning
  • Recognize risk and value creation during operations, from people-related and government-related operations challenges to technical challenges


  • Development Process
  • Commercial Drivers of Development Concept: Markets, Contracts, Partners
  • Selecting the Right Concept
  • Sim: Concept Select
  • Project Risk & Uncertainty
  • FEED and EPC
  • Project Planning
  • Sim: Plan & Execute
  • Production Agreements
  • Sim: Production Agreement Scenario Based Challenges
  • Operations and Asset Management
  • Sim: Operations and Asset Management Scenario Based Challenges
  • Production Development Opportunities
  • Sim: Production Development Opportunity Scenario Based Challenges
  • Managing Mature Assets
  • Sim: Mature Asset Scenario Based Challenges

Special Features

  • Compete against peers to see who can most effectively enter the simulated country, while facing similar competition from other Oil & Gas companies
  • Practice applying the lessons learned and relate them back to your work within, and in support of, the industry
  • Explore the challenges associated with operating an asset long-term within a country, subject to prior agreements and changing government expectations, including end-of-life considerations as the asset matures

Who Attends

Taking a deeper look into planning and developing a new asset, as well as into ensuring efficient operations over the life of an asset, professionals who would benefit come from these groups:

  • Upstream leaders who need to understand the complex link between acquiring new resources and the resulting development outcomes and operating efficiencies
  • Project development leaders seeking to understand how decisions made in the past impact them today and how they can optimize their performance
  • Logistics firms and terminal companies who must understand the challenges their customers are facing
  • Pipeline operators who must understand interconnected supply-and-demand relationships
  • Oilfield services firms who are looking to provide value to resource developers and other industry players
  • EPC and other contractors serving the extractive industries
  • Financial and legal professionals who are navigating complex investments and value creation opportunities and who are involved in negotiations with partners and governments
  • Technical advisors and employees looking for a deeper commercial understanding of the oil and gas industry

NOTE: This class is beneficial to all participants in the oil and gas industry but also to those from other extractive industries who face similar challenges when it comes to responding to changing prices, environmental regulations, and end-of-life remediation issues, among others.

Additional Information

CEUs: Participants earn 1.8 CEUs for this course. A certificate of completion will be presented from Texas Executive Education.
Course Credits: 1.8


R. Britt Freund

Dr. R. Britt Freund is Director of the Project Management Consortium at the McCombs School of Business, University of Texas at Austin. He is also the former Graduate Business Dean and Director of the Full-Time, Evening and Professional MBA programs at the school.

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Gurcan Gulen

Dr. Gülen is an energy economist with 25 years of international experience in policy and market research on oil, natural gas, and electric power value chains; and associated strategic technical assistance and customized capacity building in numerous countries.

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With over 35 years of experience leveraging customized business simulations and experiential learning tools, BTS partners with organizations in strategy execution to engage people more deeply in the strategy, accelerate implementation, and deliver business results. BTS’s unique approach supports the alignment, skill development and behavioral change necessary for exceptional strategy execution. With deep expertise across the Oil & Gas, Mining and other extractive industries – a BTS experience provides you the opportunity to practice before you play in a high-fidelity decision making environment. For a company, the end results are quantifiable and measurable, illustrated in everything from revenue growth to increases in customer satisfaction and employee engagement. This is the first time a customized BTS simulation experience will be available in for open enrollment across the Oil & Gas, Mining and related industries.

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Upcoming Sessions

There are no sessions scheduled at this time. For more information about the next class date, please contact us at or 512-471-5893.