Prospect and Play Assessment

Description

Assessment of plays and prospects is an important tool in managing financial and human resources. This course is a fully modern approach to defining prospect and play volumetrics, uncertainties in defining these volumes and the risk that the accumulation exists. This practical course is adaptable to any workplace. The course evaluates other published approaches and contrasts them with the recommended procedures allowing the participants to choose the very best approach to resource evaluation. This course offers the industry quantitative, probabilistic play and prospect assessment procedures that are consistent and repeatable allowing for direct comparisons play to play or prospect to prospect.

The concepts and techniques learned in the course are applied to real industry examples in exercises and workshops. Tools include comprehensive assessment forms for prospects and plays, and graphs, data tables, and guidelines for making all assessment decisions. These tools help participants estimate risks and success ratios, field-size distributions, field and prospect densities, trap geometry corrections, multiple reservoir factors, porosities, permeabilities, saturations, formation volume factors, gas/oil ratios, formation temperatures, oil and gas recovery efficiencies, API gravities, gas gravities, NGL ratios, and oil and gas yields from source rocks. The forms and procedures are easily adaptable for internal usage in any oil and gas organization. All factors can be handled in either metric or English units.

Designed for

All exploration team members and leaders including geologists, geophysicists, geochemists, analysts, reservoir engineers, economists, planners and managers who make business decisions based upon exploration data.

Topics

• Calculate geological risk and uncertainty in exploration prospects
• Determine prospect resource volume estimates
• Assess resource distribution in a play
• Understand the differences between stochastic and probabilistic estimates and have the knowledge to know when to one or the other.
• Predict the number and size distribution of potential future fields in a play
• Describe and calibrate risks associated with discovering a successful play