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Using New Technologies to Optimize Asset Management
- INSTRUCTOR S :
- Paul Harrington (W.L. Gore & Associates, Elkton, MD) and Rick Schrynemeeckers (W.L. Gore & Associates, The Woodlands, TX)
- February 13, 2013
- Norris Conference Center, City Centre location, Houston, TX
(if purchased individually)
Registration for the entire week is $1,795 for members, $2,095 nonmembers. Goes up to $1995/$2295, and/or individual course prices increase by $50/course day after 1/14/2013. Course notes, refreshments and lunch buffet included.
No refunds for cancellations after 1/14/2013.
- .75 CEU What is a CEU?
Who Should Attend
This course is designed for geologists, geophysicists, and financial individuals who are involved in oil and gas exploration and/or development. The course is aimed at anyone who desires an increased understanding of the management of E&P assets (properties, field, etc.). A background, degree or experience in the geosciences, engineering or a financial area (finance, accounting, etc.) is preferred.
Participants will learn to answer questions such as:
- Are there hydrocarbons in my acreage?
- What hydrocarbon phase do I have in my acreage?
- What is the most cost effective path to define potential reservoir structures? How can I effectively focus my 2-D and 3-D seismic dollars over large frontier areas?
- What do I do in areas where I cannot effectively shoot 2-D or 3-D seismic?
- Does my unconventional resource play contain gas, condensate or oil?
- In heterogeneous shale plays how do I determine the sweet spot for horizontal drilling?
- How do I reduce testing and completion costs?
- How do I evaluate vertical compartmentalization and seal rock integrity?
- Prospect ranking:
- Are my structures charged and what are they charged with?
- What are the boundaries of my petroleum system?
- Are there faults that do not show-up on my seismic?
- How do I evaluate areas where seismic data is poor or nonexistent?
- How do I explain dry wells?
- How do I determine sweet spots for economic wells?
- How do I confirm areas for relinquishment?
- In areas with complicated geologic structures, how do I assess water flood and CO2 flood efficiencies and by-passed flood zones?
This course takes participants through the life cycle of a field (i.e. frontier exploration, exploration and prospect ranking, drilling, and field development), and discusses the important decision points at each one of these stages. For example, the technical and financial decisions made in frontier exploration are very different than the decisions made in a developed field. Thus we will move through the decision tree at each one of these stages to enhance the success in finding and developing oil and gas fields. The course uses a combination of instructor-led sessions, group discussions, and exercises to ensure participants absorb both the theory and the practical application of the topics. Relevant industry case studies and success stories will be used throughout the course.
This course will provide knowledge and understanding of the entire oil company decision-making process from initial new country entry strategy through to field abandonment. It will cover the technical and business challenges as well as the interactions with fiscal and government bodies. This will include the decision making process in various aspects from exploration to production as well as typical business and economics framework of oil companies. The course will provide understanding of oil companies’:
- Decision process
- Calculation of value
- Asset management
- Oil and gas challenges, practiced via computer simulation
- Exploration, appraisal and field development planning activities
- Economics and financial planning