Course Description

This course focuses on the first two days of our flagship five day course on Exploration Risk Analysis, primarily on the geotechnical concepts and principles of estimating under uncertainty, especially as related to the measurement of and communication about your prospects. We make use of (1) realistic games and exercises to illustrate principles and mechanics of estimating methods; and (2) analytical procedures involved with uncertainty and risk associated with modern petroleum exploration. The course identifies fallacies and unintended consequences of many corporate procedures for conducting petroleum exploration, and shows explorers how to get better at what they do. Due to time limitations, there are no integrative exercises.

Course Outline

Day 1
Introduction to Risk Analysis
Statistics - The Language of Uncertainty
Coping with Uncertainty

Day 2
Estimating Prospect Resource Potential, the EUR
Chance of Prospect Success
Performance Tracking

Course Documentation

RA 2-Day QGR.pdf (35.9k)