History Of Rose
Since the year 2000, Rose has specialized in E&P Risk Analysis, teaching, and implementing consistent evaluation procedures. We maintain the tradition of systematic, objective prospect and play evaluation, calibrated against real results. Our practice is known for its technical excellence, responsive service, and a legacy of influential professionals.
Moments Throughout history
01
The Dilemma
Before 1965, prospect valuation relied on “rules of thumb,” causing inconsistencies and misunderstandings. Bob Megill and Ed Capen revolutionized this by introducing objective methods for prospect valuation, paving the way for geoscientists to take responsibility for the value of their prospects.
02
The Pioneers
Bob Megill, with Exxon, taught geotechnical staff about prospect economics and risk analysis. Ed Capen, at ARCO, pioneered statistical tools for E&P activities, which were published in industry publications.
03
The Bridge
Pete Rose, an independent prospector and consultant, collaborated with Megill and Capen to design and teach a popular AAPG school on prospect risk analysis. Rose acted as a bridge between geology and complex math/statistics.
04
PetroRisk Partners
In 1990, Rose focused on Exploration Risk Analysis, working with major companies like Texaco and Unocal. He later formed PetroRisk Partners with Capen and Bob Clapp, offering a renowned 5-day course on “Evaluating and Managing Petroleum Risk.”
05
Sole Proprietor
From 1992, Rose consulted and taught widely. He received prestigious awards, including the Parker Memorial Medal and AAPG Honorary Membership, and authored the influential book “Risk Analysis and Management of Petroleum Exploration Ventures.”
06
From Sole Proprietor to Partnership
In 1998, Rose expanded his practice, licensing Risk Analysis software from Marathon. He recruited experts like Gary Citron and Mark McLane to develop training courses. Rose served as Managing Partner, then Senior Partner, and made significant contributions to industry standards and awards.