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.