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Many companies are taking a pro-active stance toward new technology and have assembled teams to scout and implement new techniques and technologies in their operations. Please meet Mike Party, part of the Emerging Technology Team at Hess. Mike speaks to us today about the quest for the breakthrough technologies. Mike will be presenting at AAPG's Success with Difficult Unconventionals, Nov 12-13, in Houston.

Recently Added Training

AAPG Event 24 February, 2020 8:00 AM 5:00 PM 24 October, 2019
 
24 February 2020

Date: Monday 24 February 2020 (1 day)
Instructor: Steve Begg, DecisionsDecisions, Australia

Overview:

There is strong evidence that many Oil and Gas projects are plagued by large cost and schedule overruns, or significant under-performance in productivity and other metrics used to justify decisions.

Business outcomes are largely determined by two factors: the decisions we make and uncertainties over which we have no control. The best we can do to get good outcomes is to make good decisions. But have you ever been taught how to make a good decision? Would you know a good decision if you saw one?

This workshop will introduce key concepts in Decision Analysis (DA) and the Decision Dialogue Process (DDP) – a non-proprietary, rigorous (scientifically underpinned) approach to decision-making, used for over 40 years in a variety of sectors such as oil & gas, pharmaceuticals, IT, military, aviation, environment ….. Together, they provide a prescriptive, pragmatic, auditable methodology (process and tools) to help people create and evaluate choices, leading to high quality, compelling decisions. The methodology is entirely scalable in that its principles can be implemented within a few minutes or over weeks or months, depending on the nature and importance of the decision. Thus it is applicable from relatively small investments (hiring an employee; choosing a supplier of services or software) through to major decisions (acquiring leases; drilling; project developments; or organizational strategy). It is equally applicable to personal decisions.

The workshop will cover the key conceptual ideas that are required to make good decisions and introduce a model that is applicable to most decisions that require a modicum of thought. Attendees will be expected to respond to questions about decision-making and engage in small group discussions and exercises.

Who Should Attend

All people who make, or provide input to, decisions - from relatively minor decisions (e.g. to collect data or do “studies”, analysis, interpretation) up to major investment or strategic decisions. Suitable for all geoscientists, engineers and people involved in commercial, economics, business development, strategy.

Course Content
  • Questionnaire
  • Decisions & Uncertainty
    • Poor business performance and it’s major causes: uncertainty and “flawed thinking”
    • Decision-making (ranking) vs prediction/forecasting
    • Clarification of concepts: Uncertainty vs ambiguity vs variability vs risk
    • Risk attitudes – what they really are/mean and their impact on aggregate decision-outcomes
  • Fundamentals of Decision-Making
    • Decision Analysis
    • Decision Elements & Model
    • Easy/Hard decisions, Good/Bad Decisions and Incentives
  • How to make Good decisions
    • Advocacy vs structured decision-dialogue
    • Assessing decision quality (DQ) both during and after decision-making process
    • Simplified version of DA
  • Centrality of valid reasoning in making good decisions in complex and uncertain situations
  • Common Biases and Trap in Decision-making: Identification, Explanation and Mitigation
    • Positive Illusions
    • Overconfidence
    • Optimism
    • Anchoring
    • Planning Fallacy
    • Availability, Vividness and Recency
  • Learning from visual judgments
  • Summary of Key Points
Instructor’s Profile

Steve Begg is an oil and gas industry expert on decision-making under uncertainty, including asset and portfolio economic assessments and the psychology of decision-making, particularly bias assessment and mitigation. He is co-author of the book, “Making Good Decisions”, commissioned by the Society of Petroleum Engineers. He is an Emeritus Professor of Petroleum Engineering and Management at the Australian School of Petroleum at the University of Adelaide, where he has worked since 2002. For six years, he was Head of the School. Before joining The University of Adelaide, Steve was Director for Decision Science and Strategic Planning with Landmark Graphics Corporation (a Halliburton company) where he was responsible for leading improved economic evaluation and decision-making for both Landmark and its customers. Earlier, he worked with BP for 13 years, the last 6 of which were spent in a variety of senior geo-science and engineering operational assignments in Alaska, which spanned production forecasting, economic evaluation, petroleum engineering, and reservoir characterization roles. He also spent seven years as a researcher and Project Manager with BP Research, where his focus was on risk and uncertainty assessment related to reservoir modeling. His decision-making expertise is grounded in his understanding of the industry, surface and subsurface.

Steve has published numerous papers on topics such as: decision-making under uncertainty; asset and portfolio investment evaluation/economics; psychological factors in judgement & decision-making (bias assessment and mitigation when eliciting subject-matter-expert opinions’ and uncertainty assessments); and reservoir characterization (heterogeneity/uncertainty modelling and up-scaling). He was instrumental in starting the SPE Economics and Management journal. His contributions to decision-making and economic evaluation have been recognized by receiving the SPE Asia-Pacific regional award, and in 2016 the SPE’s top International Award, for the Management and Information discipline.

Steve holds a PhD degree in Geophysics and a BSc degree in Geological Geophysics from Reading University and has attended executive education short courses at MIT and the University of Texas.

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Join a TIG

 
Applying new analytics, neural networks, computational approaches using structured and unstructured data, and also training neural networks with supervised and unsupervised algorithms. Chaired by Patrick Ng and Andrew Munoz.
American Association of Petroleum Geologists (AAPG)
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Join a SIG

 
The mission of AAPG Women's Network is to increase participation and advancement of women in Earth sciences and the Energy Industry, with an emphasis on education, outreach, support, leadership development, and ultimately retention. AAPG Women's Network will interact with women in Earth Science, their male peers and employers, educational institutions, and professional societies to accomplish this mission.
American Association of Petroleum Geologists (AAPG)
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Join a Committee

 

The Ethics Committee is charged with investigating and prosecution of charges of misconduct by AAPG members who are in violation of the AAPG Code of Ethics. Charges of misconduct in violation of the code of ethics (Article IV) of the AAPG Constitution must first be submitted in writing to the Executive Director at Association headquarters with a statement of the evidence on which the charges are based. The Executive Director submits the charges to the Ethics Committee of the Association which is a standing committee and which consists of five (5) members of the Division of Professional Affairs. The AAPG Executive Committee appoints the members of the committee for staggered three (3) year terms.

The Ethics Committee may conduct an investigation to reasonably and thoroughly investigate the charges. If in the judgment of the Ethics Committee and after consultation with AAPG legal counsel, the evidence supports further action bv the Association on the charges, the committee prepares and files with the Advisory Council at Association headquarters formal charges against the accused member. Upon such filing the Chairman of the Advisory Council appoints a Hearing Body from the Advisory Council members and the Ethics Committee appoints one of its members as the prosecutor. The grievance procedures are described in the AAPG bylaws. The existence of allegations against any member, and the basis and content thereof, is confidential.

The Ethics Committee is also charged with locating and designating a Distinguished Lecturer on Ethics with that person being part of the AAPG's Distinguished Lecturer Program. The Committee shall biennially place in nomination one (1) or more persons who would be willing to provide lectures on the topic of professional ethics and select, by a simple majority committee vote, one (1) person to serve in that capacity.

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Classified Position Available

Associate Director, Environmental Division, Bureau of Economic Geology

The Bureau of Economic Geology (Bureau) in the Jackson School at The University of Texas at Austin seeks a highly talented individual to lead its Environmental Research Division.

Deadlines

30 Nov

AAPG/EAGE 5th Myanmar Oil & Gas Conference – Call for Abstracts Expires in 19 days

Business and Economics, EngineeringAsia/Pacific Region - ...Myanmar
05 Dec

Unconventional Resources Technology Conference 2020 - Call for Papers Expires in 24 days

Business and Economics, EconomicsUnited States - ...Gulf Coast Section - ......Texas
09 Dec

IBA 2020 Call for Applications Expires in 28 days

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