Petro-Tech: Philosophies of Cashflows and Error Checking

Speaker Kirby Wells
Speaker Name: Kirby Wells Speaker Title: Acquisitions Manager Speaker Company: Wapiti Energy, LLC Speaker Bio:  Kirby entered the oil and gas industry as an engineering technician and later transitioned into petroleum engineering.   As a reservoir engineer, chief engineer, asset team manager and now acquisitions manager, he has managed professionals from ...

Speaker Name: Kirby Wells


Speaker Title: Acquisitions Manager


Speaker Company: Wapiti Energy, LLC


Speaker Bio: 


Kirby entered the oil and gas industry as an engineering technician and later transitioned into petroleum engineering.   As a reservoir engineer, chief engineer, asset team manager and now acquisitions manager, he has managed professionals from many disciplines and projects on 5 continents.  He’s had a grand time along the way exploring the ways engineering, geology, land, lease administration and accounting disciplines impact asset performance.  Kirby holds a BS in Physics from Texas Tech University and an MS in Petroleum Engineering from the University of Houston.  When he’s not working he likes to hang out with his 3 boys, 12 nephews and 5 nieces, but he rarely spends time with all of them at once.

Full Description

You’ve properly formatted all the inputs, pressed all the right buttons and the Year End cashflow runs are complete.  The summaries are published, management has signed off on the preliminary second version of the final run and the auditors are waiting for their export.  Can you reproduce the correct results?  If you can’t, why not?  How do you know the correct results are really correct?  If you don’t know, how does management know?  These are the questions that separate a software expert from an engineering technician.  They require judgment and an understanding of how a cashflow works, what it models and how it’s used.  Unfortunately most of the training techs receive focuses on software and programming skills, necessary but insufficient to make the leap from software expert to a more rewarding and challenging key contributor role.

The engineering tech is at the intersection of engineering, geology, accounting, lease administration and land functions that impact not only reserves cashflows but asset performance.  In this presentation, we’ll walk through a cashflow and discuss what each section models and how to verify that it’s correct.  We’ll also discuss who you can approach, and how, to understand what you’re modelling and verify that it’s modeled correctly.

 

Organizer Lilly Lee

When?

Tue, Oct. 14, 2014
11:30 a.m. - 12:30 p.m. US/Central

How Much?

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Where?

Sheraton Houston Brookhollow Hotel
3000 N Loop W Fwy
Houston, TX 77092
United States

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