April 27, 2006


Description

Making sound business decisions in one of the hottest domestic exploration plays, unconventional gas, offers a set of challenges not usually encountered with more  traditional opportunities.
 
Unlike with standard prospect and conventional play risk analysis, geologic chance is not a major issue, and estimates of initial production, decline rates, mechanical efficiency, and success planning dominate the analysis rather than traditional volumetric determinations. The valuation and assessment of unconventional or “continuous resource” opportunities is not feasible using traditional probabilistic, volumetric-based methods.
 
The evaluation of unconventional resource requires a different approach that must take  into consideration uncertainties in rate and rate through time. A fully stochastic business, valuechain model is the best way to assess the potential of an unconventional play. Ideally, this evaluation method includes all significant uncertainties from exploration through the end of production. Such an evaluation method allows for multi-disciplinary and cost input that affords decision makers with the appropriate data to make good decisions.
 
This comprehensive approach will provide companies with the insight to make correct appraisal and development decisions and allocate the level of capital and resource appropriate for the play and risk tolerance of the company.

Featured Speakers

Speaker Bill Haskett
Principal, Exploration and Production Decision Strategies Inc. Bill Haskett is a Certified Petroleum Geologist having over twenty-five years of worldwide petroleum exploration and development experience. His work has included facilitation, evaluation, and technical support of major oil and gas projects (rank exploration through commercialization) in the majority of the world''s …

Principal, Exploration and Production
Decision Strategies Inc.


Bill Haskett is a Certified Petroleum Geologist having over twenty-five years of worldwide petroleum exploration and development experience. His work has included facilitation, evaluation, and technical support of major oil and gas projects (rank exploration through commercialization) in the majority of the world''s hydrocarbon producing areas, and LNG. He is an industry recognized leader in Risk and Decision Analysis, Portfolio Management / Analysis, and process implementation. He has personally led teams and facilitated projects resulting in billions of dollars in added value and reduced costs for clients.

 

In addition to project work and process implementation for clients, Mr. Haskett is responsible for the prospect and play evaluation, risk and decision analysis (Integrated Decision Management™) curriculum in the upstream Oil and Gas sector. He teaches several different courses in upstream risk and uncertainty analysis including “Advanced Risk Analysis: Beyond Lognormal”, which is featured in the American Association of Petroleum Geologists'' continuing education program. Other popular decision and assessment centric courses include:


  • Risk Analysis for Development Professionals.

  • Standard Risk Analysis for Explorationists.

  • Advanced Excel, Simulation, and Crystal Ball.

  • Portfolios: Practical Analysis, Management, and Process Implementation.

  • Custom courses to meet particular client needs.


 

Mr. Haskett graduated from McMaster University''s Geology Department and received an MBA from the University of Calgary (management of organizational change). A sought after speaker/instructor, he guest lectures at several institutes of higher learning. He is a member of the Canadian Society of Petroleum Geologists, the American Association of Petroleum Geologists, the Society of Petroleum Engineers, and is a Fellow of the Geological Society of London. He is the creator of Decision Strategies'' dsiRISK multiple target stochastic resource assessment software.

Full Description



Organizer

Michael Sternesky


Date and Time

Thu, April 27, 2006

11:30 a.m. - 1 p.m.
(GMT-0600) US/Central

Event has ended

Location

The Courtyard on St. James Place

1885 St. James Place
Houston, Texas
USA