Managing Risks and Strategic Decisions in Petroleum Exploration & Production - PEICE

Venue: Calgary

Location: Calgary, Canada

Event Date/Time: Oct 17, 2011 End Date/Time: Oct 19, 2011
Registration Date: Oct 17, 2011
Early Registration Date: Oct 17, 2011
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Course Information:


This three-day seminar provides participants a practical, hands-on approach to modern techniques in petroleum risk management and strategic decision-making. The techniques presented are applicable to all aspects of petroleum exploration and production – prospect evaluation, resource allocation, diversification, risk sharing, and corporate planning. This seminar helps participants develop problem solving, leadership, and functional skills necessary to manage the modern petroleum enterprise. This seminar is well suited for E&P managers, finance staff and managers, engineering managers, economics/planning personnel, as well as geologists and engineers. Seminar participants will find the concepts and techniques stimulating and beneficial – enabling them to apply risk and decision making concepts to their jobs. . . immediately.

A complete set of course materials and lunches are included.


Modeling and Structuring Complex E&P Decisions

Decision Analysis - Utilizing Influence Diagrams and Decision Trees

Applications of Decision and Risk Analysis to the Petroleum Sector

Value of Information Concepts and its Application to the E&P Setting

The Value of Sensitivity Analysis and Monte Carlo Simulation in E&P

An Overview of Modern Finance Concepts and Investment Analysis

Portfolio Management - Models and Applications in the E&P Sector

Capital Projects as Real Options - Evaluating Investments

Corporate and Financial Risk Tolerance and E&P Decision Making

Implications of E&P Corporate Risk Taking and Performance

Incorporating Multiple Performance Objectives into Your Analysis

Integration - Working to Improve Performance

Instructor(s): Michael Walls

Dr. Michael Walls is a professor of Mineral Economics at the Colorado School of Mines, and a recognized authority on the application of risk and investment theory to the petroleum industry. He is the author of numerous articles on the topic of decision and risk analysis, and its application to the petroleum sector. In addition to 14 years of industry experience, Dr. Walls has consulted in the areas of risk analysis and strategic planning to oil companies such as Texaco, BP, ConocoPhillips, Amoco, Petrobras, PDVSA, Ecopetrol, BHP, Talisman and others. He holds a B.S. degree in Geology, an M.B.A. in finance, and a Ph.D. in management from the University of Texas at Austin, and has significant teaching experience in executive programs as well as in-house briefings for oil and gas professionals. He brings a combination of business expertise, industry knowledge, and technical superiority that has proven to be particularly effective for clients in developing strategies, allocating resources, and managing risk.

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Additional Information

Delivery Method: Classroom Training
Fee: $ 2295 CAD
Location Calgary, AB
CEU: 2.4 Continuing Education Units
PDH: 24 Professional Development Hours

Sessions: Date Start Time - End Time
1. Monday, October 17, 2011 8:30 AM - 4:30 PM
2. Tuesday, October 18, 2011 8:30 AM - 4:30 PM
3. Wednesday, October 19, 2011 8:30 AM - 4:30 PM