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Making Better Upstream Acquisitions: The Role of the Petroleum Engineer and Why its Different From the Day Job
June 21, 2022 @ 4:45 pm - 7:30 pm
$40.00 – $70.00
Society of Petroleum Engineers Western Australia is proud to present the details of our June SPE Distinguished Lecturer Technical Evening Meeting.
About the Presentation
Global upstream transactions are estimated at nearly $200 bn in 2021. Production/cost forecasts and assessment of future opportunities/risks are crucial inputs to the economic evaluation of a potential acquisition. It follows that potential buyers need to conduct technical due diligence on these inputs. In times of volatile oil and gas prices, good technical due diligence can be the difference between a good and a bad deal.
Petroleum engineers are often called upon to join acquisition teams. With typically a few days/weeks of evaluation time, technical due diligence requires considerable focus and a fundamentally different approach to the typical industry workflow. Yet, there are no industry courses on this subject and a OnePetro search reveals the last paper was 30 years ago.
This talk highlights how a Petroleum Engineer should approach working in an upstream acquisitions team and illustrates practical methods for conducting technical due diligence. A ‘top down’ process that starts with identifying what drives value is proposed. Several case studies are presented showing how good technical due diligence has had a fundamental impact on acquisition decisions.
The key messages are that technical due diligence requires a very different approach from the Petroleum Engineer’s ‘day job’ and that it pays.
About the Speaker – Geoff Salter
Geoff Salter is a Partner at RISC Advisory specializing in Reservoir Engineering. He holds an MSc in Petroleum Engineering. His early industry experience was focused on field development and production operations with major operators Shell and Woodside. During his 25 years at RISC Advisory based in London or Perth, he has led technical due diligence teams on oil and gas acquisition opportunities in the Asia-Pacific region, Europe, Middle East and Africa. He has travelled extensively throughout these regions, presented at industry conferences and participated in SPE ATWs.
About the Event
Price: Early Bird SPE Member $40 <Until the 17 June 2022>
Early Bird Non-Member $60 <Until the 17 June 2022>
SPE Member $50
Non-Member $70
Date: Tuesday, 21 June 2022
Location: Parmelia Hilton Hotel
Location: 14 Mill Street, Perth WA 6000
Time: 16:45 am – 17:00 pm Registration & Networking.
Time: 17:00 pm – 17:10 pm SPE WA Opening Marks.
Time: 17:10 pm – 17:45 pm Presentation.
Time: 17:45 pm – 18:00 pm Q&A Session.
Time: 18:00 pm – 19:30 pm Closing with Networking drinks & Nibbles.
Please notice the tickets sale is limited and be hurry to lock in your ticket. The ticket sale closes on the 20 June 2022 at 4 pm.
As per government requirements, proof of at minimum double vaccination is required to enter the venue.
Free Tickets Available for SPE Student Chapter Members
SPE WA, in conjunction with our sponsors, is kindly sponsoring SPE Student Chapter Members to attend the monthly technical events. Please fill out an application form explaining why you are interested in attending the SPE WA technical events. Successful applicants will be notified via email. Note that applications will only be accepted up to the 14th of June 2022.
Application Form: https://docs.google.com/StudentApplicationForm
