Today’s petroleum exploration and production firms are in an increasingly competitive and risky business environment. Managers find they need to adopt better and more systematic decision processes that explicitly embody the firm’s objectives, desired goals, and resource constraints. They are regularly confronted with the issue of allocating scarce capital among a set of available exploration, development and acquisition opportunities…opportunities characterized by a high degree of financial risk and uncertainty. Therefore, firm managers must focus on the value their corporate and business level strategies are creating.
This 2 1/2 day course is a practical, hands-on approach to modern techniques in risk management and strategic decision making. The techniques presented are applicable to all aspects of petroleum exploration and production including prospect evaluation, resource allocation, diversification, risk sharing, and corporate planning.
The instructor, Dr. Michael R. Walls, will present an advanced set of decision science and strategy techniques and will show how to implement these techniques in your own E&P business to enhance the value of the company.
Under the experienced guidance of the instructor, participants will learn how to integrate the concepts and techniques stimulating and beneficial, enabling them to apply risk and decision-making concepts to their jobs immediately.
Managing Risks & Strategic Decisions Brochure
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Michael R. Walls, PhD
Who Should Attend
During this seminar, you will learn & understand. . .
- The characteristics of strategy and capital allocation issues which confront the E&P firm
- How to most effectively apply an advanced set of decision science and strategy techniques to your specific business situation
- The importance of risk-sharing and diversification in project selection
- How to measure, manage, and control financial risk
- The performance implications of your firm’s risk taking actions
- How to act on your E&P business strategy through the capital allocation process
Date, Time & Location
November 8-10, 2017 * Houston, Texas
8:30 am – 4:30 pm (Wed & Thursday); 8:30 am – 12:00 noon (Friday)
The seminar will be held at the Marriott Westchase Hotel, 2900 Briarpark Drive, Houston, Texas. To make your room reservations and to receive the University of Tulsa group rate of $159++, call 1-800-452-5110. Reservation Deadline: October 27, 2017.
This course qualifies for 16 PDHs (Professional Development Hours) and 1.6 CEUs (Continuing Education Units). American Association of Professional Landmen may also approve this course for RLP and CPL Hours. State Accountancy Boards and State Bar Associations may also approve this course for CLEs and CPEs.
Course Summary Outline
- Modeling & Structuring Complex E&P Decisions
- Decision Analysis: Utilizing Influence Diagrams, Decision Trees
- Applications of Decision & Risk Analysis to Petroleum Sector
- Value of Information Concepts, Applications to E&P Setting
- Value of Sensitivity Analysis & Monte Carlo Simulation in E&P
- Overview of Modern Finance Concepts & Investment Analysis
- Portfolio Management – Models, Applications in E&P Sector
- Conventional vs. Unconventional Plays – Risk Challenges
- Corporate, Financial Risk Tolerance & E&P Decision Making
- Implications of E&P Corporate Risk Taking & Performance
- Incorporating Multiple Performance Objectives into Analysis
- Integration – Working to Improve Performance
Immediate Benefits of Attending
- Apply risk assessment and analysis techniques to your specific business situation
- Incorporate multiple E & P objectives into your risk analysis and decision process
- Employ state-of-the-art asset and project evaluation techniques
- Utilize a portfolio analysis approach to allocating scarce capital and resources
- Provide managers clear guidelines on making choices among risky projects
- Measure the value of seeking additional information before you pay for it
- Organize objectives into a systematic framework to evaluate investment alternatives
- Measure, interpret, and implement your firm’s unique risk tolerance level
- Show clearly how improving E & P decision making can create value for your firm
- Identify and create new decision opportunities for improving exploration activities
- Develop concepts and techniques you can apply to your job immediately