BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//Tendenci - The Open Source AMS for Associations//Tendenci Codeba se MIMEDIR//EN BEGIN:VEVENT DESCRIPTION:--- This iCal file does *NOT* confirm registration.\r\nEvent d etails subject to change. ---\r\nhttps://www.spegcs.org/events/2861/\r\n\r \nEvent Title: Reservoir: Correct Forecasts Often Aren’t\; Reservoir Stu dy 2.0 = ?\r\nStart Date / Time: Mar 19, 2015 11:30 AM US/Central\r\nLocat ion: Sullivan’s Steakhouse\r\nSpeaker: Helge Hove Haldorsen, Event spons ored by OPC\r\nGoogle\r\nhttp://maps.google.com/maps?q=4608+Westheimer+Rd+ ,Houston,TX,77027\r\n\r\nForecast\nhttp://www.weather.com/weather/monthly/ 77027\r\n\r\nAfter comparing forecasts of production, reserves, cost, sche dule and value creation with the actuals realized, IPA (Independent Projec t Analysis) concluded that the state of the field development forecasting business is the equivalent of a yellow or red card in soccer. Something ha s to be done to make the forecasts more realistic and less biased towards the optimistic. At the same time, the E&\;P business is facing a VUCA f uture (volatile, uncertain, complex and ambiguous) and it is very importan t to account for the key uncertainties and risks in individual field devel opments and in the aggregate portfolio of company assets &ndash\; as indiv idual field and composite ambitions are arrived at and communicated. Add t o this the need for E&\;P to adapt and to turn itself into a better per forming E&\;P2.0 via imagination, innovation (of technology, big data, the internet of everything, AI, business model, collaboration2.0,..) and & lsquo\;creative destruction&rsquo\; to combat low oil and gas prices, the high break-evens and the too low return on investment in the view of inves tors. All these aspects will be addressed and a key recommendation is tha t 2015 must be the year of cross-discipline thinking! --- This iCal file d oes *NOT* confirm registration.Event details subject to change. ---\r\n\r\ n--- By Tendenci - The Open Source AMS for Associations ---\r\n UID:uid2861@spegcs.org SUMMARY:Reservoir: Correct Forecasts Often Aren’t; Reservoir Study 2.0 = ? DTSTART:20150319T163000Z DTEND:20150319T180000Z CLASS:PUBLIC PRIORITY:5 DTSTAMP:20240329T020234Z TRANSP:OPAQUE SEQUENCE:0 LOCATION:Sullivan’s Steakhouse X-ALT-DESC;FMTTYPE=text/html:
After comparing forecasts of pro duction, reserves, cost, schedule and value creation with the actuals real ized, IPA (Independent Project Analysis) concluded that the state of the f ield development forecasting business is the equivalent of a yellow or red card in soccer. Something has to be done to make the forecasts more reali stic and less biased towards the optimistic. At the same time, the E&\; P business is facing a VUCA future (volatile, uncertain, complex and ambig uous) and it is very important to account for the key uncertainties and ri sks in individual field developments and in the aggregate portfolio of com pany assets &ndash\; as individual field and composite ambitions are arriv ed at and communicated. Add to this the need for E&\;P to adapt and to turn itself into a better performing E&\;P2.0 via imagination, innovati on (of technology, big data, the internet of everything, AI, business mode l, collaboration2.0,..) and &lsquo\;creative destruction&rsquo\; to combat low oil and gas prices, the high break-evens and the too low return on in vestment in the view of investors. \; All these aspects will be addres sed and a key recommendation is that 2015 must be the year of cross-discip line thinking! \;