Mitigating Bias, Blindness, and Illusion in E&P Decision Making

Decisions in E&P ventures are affected by bias, blindness, and illusions which creep into our analyses and interpretations. This one to two day course examines the influence of these distortions and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions are misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project.


Course Description (PDF)

Course Outline

01. Introduction

02. Bias

Anchoring, Availability, Confirmation, Framing, Information, and Overconfidence

Motivational Bias

03. Blindness and Illusion

Perceptual Blindness

Illusions of Knowledge, Potential, and Objectivity

04. Case Studies (a relevant subset of these will be presented)

Plio-Pleistocene Sandstone (Exploration Well)

Pliocene Sandstone (Exploration ‘Drill or Drop’)

Jurassic Sandstone (Exploration License Round)

Cretaceous Shale (Field Appraisal)

Cambrian Sandstone (Field Appraisal)

05. Real-World Exercises (a relevant exercise will be presented)

Triassic sandstone, structural play (Exploration Well)

Fractured carbonate, waterflood potential (Field Appraisal)

Shale reservoir (Field Appraisal)

06. Mitigation ‘Toolkit’

Who Should Attend

Geoscientists, Engineers, Economists, Managers, and anyone else who wants to understand the impact of these cognitive errors and how to lessen their influence

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View Course Schedule

Available Courses

June 10 – 13, 2024


8 – 12 pm CDT

USD $1,475

Get early bird tuition for US$1,325 before April 10th, 2024. Registration for this course ends June 5th, 2024.



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