Unconventional Resource Assessment and Valuation

This course is focused on effective business decision-making in Unconventional Reservoirs. In a realm where we are constantly dealing with limited data, it is critical that we develop the necessary skill sets required to deal with these so-called statistical plays. The course covers the assessment and valuation methods required for the characterization of resource plays from the selection of “sweet spots” to the forecasting of Proved reserves and PUDs using SPEE Monograph 3 methods. The premise for this course is that sound estimation of key engineering, geotechnical, and economic parameters is essential for maximizing profitability. Due to uncertainty and prevailing risks, unconventional resource characterization requires a staged, probabilistic approach conducive to more informed decision-making and portfolio management.


Course Description (PDF)

Course Outline

01. Introduction and Fundamental Concepts

Probability, Distributions, and Dependency

Estimating Under Uncertainty

02. Geologic Uncertainty Management

Composite Mapping, Resource and Chance Assessment Associated with Tight Sands, Tight Carbonates and especially Shale Plays (In Australia and Asia, we have the option to cover Coal Seam Gas Plays.)

03. Reservoir Uncertainty Management

Probabilistic Reserves and Aggregation

Confidence of achievement vs sample size

General Assessment and Valuation Process Following a ‘Stage-Gate’ Approach

04. Performance-Based Reserves Estimation

Production Forecasting and Reserves Estimation

Value Drivers and Sensitivity Analysis of Projects

Value of Information and its Utility in Decision Making

05. Making Decisions with Limited Data Sets

06. Integrative Exercise: Utopia Shale Assessment and Valuation

URAV culminates with an integrative team exercise to find and probabilistically quantify the resource potential, and define operational attributes within defined segments. Teams use the analysis to bid for available acreage, drill initial wells and determine how profitable their efforts have been.


Who Should Attend

Engineers, Geoscientists, Commercial team members, Business Analysts and Managers who are charged with creating value from their unconventional resources.

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Available Courses

June 17 – 21, 2024

Denver, CO

8-5 pm

USD $3,400

Get early bird tuition for US$3,060 before April 17th, 2024. Registration for this course ends June 10, 2024.

August 26 – 29, 2024

Midland, TX

8:30-5:30 pm

USD $2,950

Registration for this course ends August 21st, 2024.

December 9 – 12, 2024


8-5 pm CDT

USD $2,950

Get early bird tuition for US$2,650 before October 18th, 2024. Registration for this course ends December 4th, 2024.



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