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Petroleum Business
Economic Evaluation of Prospects and Producing Properties
Asset sales, acquisitions, lending and joint ventures all rely on a credible estimate of what a property is worth. This course teaches good evaluation modelling practice within a structured decision analysis process, so the model becomes a shared basis for discussion among teams, managers and partners. Participants learn to express uncertainty clearly and to value each party's interest.
- Discipline
- Petroleum Business
- Level
- Foundation
- Duration
- Flexible length
- Formats
- Classroom, In-house
Every course can be delivered in-house and tailored to your organisation.
Who should attend
Engineers, geoscientists, managers, planners and staff who are new to analysis and evaluation responsibilities.
What participants will be able to do
- Describe the decision analysis process and the roles within it
- Express risks and uncertainties as probability distributions
- Represent discrete risk events with probability trees and tables
- Apply expected value as the basis of a consistent decision policy
- Build evaluation models for prospects and producing assets
Topics covered
- Asset valuation
- Decision analysis process
- Probability distributions
- Judgement biases
- Expected value
- Evaluation modelling practice