|Advanced Decision Analysis with Portfolio and Project Modeling - ADA|
|Petroleum Risk and Decision Analysis - PRD|
|Cost Management - CM|
|Economic Evaluation of Prospects and Producing Properties - EPP|
Discipline: Petroleum Business
Duration: 5 days
Instructor(s): Tim Nieman, John Schuyler
|Property sales and acquisitions, lending, and investment joint ventures abound in the petroleum industry. What is most important for decision-making is to know the value of the subject asset. The evaluation model is central to understanding a project and valuing each party's interest. The model is the basis for communicating among project team members, managers, and partners. In this course participants learn good evaluation modeling practice and the decision analysis process. Appraisal modeling methods for upstream investments and operating decisions are discussed and experienced in this hands-on workshop. The learning objective is a process for delivering a credible and well-documented evaluation of reserves (or resource) and economic worth. Risk and decision analysis techniques are integral. Personal computer spreadsheets and other software are discussed. Optionally, computers with spreadsheet software may be used in this class. Model inputs include assessments about geologic, engineering and economics. Example calculations show typical engineering formulas employed in property evaluation. Drilling schedule, initial production rate and decline, product price and cost escalations, fixed and variable operating costs, simple taxes, and deal structure are added. The forecasting model translates the physical and economic project/asset description into resource/reserves, production and cash flow forecasts, and several decision criteria. Participants are encouraged to bring examples from their work for discussion. Please contact us if you wish to submit a problem in advance for possible use as a class exercise. Management buy-in and participation are essential to the success of decision analysis in an organization. The course instructor will be pleased to present a short executive briefing to managers and executives not attending the course. Please contact us if you would like to arrange a briefing session at some point during the training week.|
Engineers, geologists, geophysicists, managers, planners, and persons new to analysis and evaluation responsibilities
You Will Learn:
MR. TIM NIEMAN is President of Decision Applications, Inc., a San Francisco area based decision analysis consulting firm. His firm performs decision and risk analysis for various organizations facing complex decision problems. His recent oil and gas consulting work includes risk analysis of pipeline routing; risk analysis for deepwater flow assurance; portfolio analysis for budgeting E&P R&D portfolios; and development of methods for assessing new basin entry opportunities. Other recent work includes development of remediation and reuse strategies for impaired properties, including former refineries and pipelines; numerous projects for the Yucca Mountain proposed nuclear waste repository; work on mountain top coal mining, unconventional oil and gas drilling, basin-wide water management and climate change issues; and cancer causation modeling for national health organizations. Mr. Nieman was formerly Senior Decision Analyst for Geomatrix Consultants, an Oakland based geological and environmental consulting firm. Prior to that, he was Director of Operations for Lumina Decision Systems, a decision analysis consulting and software firm. And prior to that, he spent 14 years with Amoco as a geophysicist, economist, and risk and portfolio analyst. He has a BS in geology and an MS in geophysics from Michigan State University, and an MBA from Rice University.
MR. JOHN SCHUYLER, CAM, CCE, CMA, CMC, CPIM, PMP and PE, is a decision analyst, evaluation engineer, and investor. He founded his consulting practice, Decision Precision, in 1988. He has over 37 years of experience in analysis, consulting, training and management, primarily in the energy industry. His focus has been in feasibility analysis, appraisals, corporate planning, and evaluation software. He has presented over 290 courses in 34 countries since 1989. He was vice president and petroleum engineer with Security Pacific National Bank, planning and evaluation analyst at Cities Service Oil Co., manager of business systems for Cities Service's Petrochemicals Division, and senior management consultant with a national accounting firm. He is a member of eight professional organizations and is an author and speaker on modern analysis practices. He is the revision author of Decision Analysis for Petroleum Exploration, 2nd Ed., author of Risk and Decision Analysis in Projects, 2nd Ed., and has written over 40 articles, papers and handbook chapters. He received BS and MS degrees in mineral-engineering physics from the Colorado School of Mines and an MBA from the University of Colorado. His website is www.maxvalue.com.
In-House Course Presentations
All courses are available for in-house presentation to individual organizations. In-house courses may be structured the same as the public versions or tailored to meet your requirements. Special courses on virtually any petroleum-related subject can be arranged specifically for in-house presentation. For further information, contact our In-House Training Coordinator at one of the numbers listed below.
Telephone 1- 832 426 1234
Facsimile 1- 832 426 1244
Public Course Presentations
How to contact PetroSkills:
1-800-821-5933 toll-free in North America or
Address P.O. Box 35448, Tulsa, Oklahoma 74153-0448, U.S.A