December 2014
Arrow 03/12/2014 SPE-YP Sundowner Guest Speaker - Michael Utsler

Michael Utsler was appointed President for the BP-Gulf Coast restoration organization following the 2010 Macondo Blowout. The Macondo Blowout is still considered one of the worst environmental disasters in US history. Michael will be sharing his experience of leading the response efforts for the Macondo disaster. His presentation will focus on leadership through these extremely challenging circumstances.

Michael has over 30 years experience in the oil and gas industry and currently holds the position of Chief Operations Officer for Woodside Energy.

Following the presentation there will be an opportunity for networking. Drinks and snacks will be provided. 

Arrow 03/12/2014 The Impact of Bias & Uncertainty on Achieving Investment Value

This presentation will describe the results of a model study of the effects of bias and uncertainties in the estimates of key value drivers, on the ability to deliver production and investment performance from typical development project portfolios.  The effects of uncertainties and biases in estimates of reserves, peak rates, and capital costs were modeled for two portfolios, one “opportunity rich” and the other was “opportunity poor.”  Results demonstrate that the conventional expectation of compensating uncertainties within a large portfolio is incorrect.  Even moderate value driver uncertainties result in significant loss of potential asset value.  This is true even when the estimates are, on average, unbiased.  Introduction of systematic bias tends to increase these adverse effects. 

Results of information derived from a project look-back analysis substantiated the model study.  This also helped identify several particular opportunities for improving the reliability of value driver estimates for assessing future similar projects.  This work was also instrumental in the development of a set of information quality metrics applicable to any set of assets with a long term development portfolio. 

Arrow 04/12/2014 Well Testing Perspectives (SPE Master Class)

Every discipline from Subsurface and Facilities through Drilling & Completion have shared interests in well test operations. However, owing to their different roles and the nature of their involvement there are aspects of the well test where their interest may not be aligned and these differences often lead to miscommunicaiton and conflict. Nick Last & Paul Nardone will explore this theme in a full day session intended to demonstrate how this comes about and discuss ways in which to prevent or resolve conflicting interests.

08:00 – 08:15      Overview & Introductions

Well test Perspectives from
08:45 – 10:30      facilities & drilling.
10:45 – 12:00      Subsurface.

12:00 – 12:30      Lunch break

Facility Discussions
12:30 – 13:30      Completions Flowback
13:45 – 14:45      Value of information
15:00 - 16:00       Flaring
16:00 – 16:30      Wrap up session

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