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.

90% of participants rated this seminar & instructor “Excellent”!
“A very good overview of current risk applications in the petroleum industry.”
– VP, Rosewood Resources

“Dr. Walls clearly knows his stuff and his style makes it very easy to stay engaged. A very good class overall!”
– Sr. Engineer, Protégé Energy III

Contact our office today to sign-up!
The University of Tulsa, CESE
Phone: 918-631-3088

Upcoming Course

TBD Online registration available soon

In-Company Training

This course is also available for on-site training. In-company courses for your group simplifies scheduling and maximizes training dollars. Request a Course Quote for In-Company Training


Michael R. Walls, PhD

Who Should Attend

  • Petroleum Exploration Managers
  • Geological and Geophysical Managers
  • Economics and Planning Personnel
  • Financial Analysts
  • Project Evaluation Personnel
  • Oilfield Services Sales and Technical Support Staff
  • Finance Directors
  • Vice Presidents of E&P Companies
  • Corporate Executives specifically responsible for corporate risk activities
  • Bankers responsible for petroleum financing activities
  • Representatives from oil ministries responsible for resource development
  • *There are no prerequisites for attendance

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


This course meets from 8:30 am – 4:30 pm the first two days; then from 8:30 am – 12:00 pm on the third day.


This course qualifies for 16 PDHs (Professional Development Hours) and 1.6 CEUs (Continuing Education Units).

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

    2018 Course Fee

    $1,595 per person – Group Discount (3 or more attending same offering)
    $1,795 per person – Early Enrollment Discount Deadline: August 22, 2018
    $1,995 per person – Regular Tuition