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After a merger, a major oil and gas company found it was left with multiple trading systems, which were not well coordinated and supported only limited types of trading. Events
17Platinum: PKF Texas Gold: Schlumberger, Silver: McGriff Seibels & Williams, Westin Galleria - 5060 West AlabamaHouston Texas
Jul 20, 201206:30 AM - 09:00 AM
Established in 1994, the Oilfield Breakfast Forum has emerged as one of the premiere thought-leadership events in Houston, attracting over 700 industry executives per event. Held three times a year,...
Thought Leadership Blog
Recently, a client planning to participate in a Play in the Western Canadian Sedimentary Basin raised a seemingly simple question with a very complex answer: how much land should we buy? Clearly,...
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With today’s drilling and completion costs accounting for nearly two-thirds of the capital expenditures of some projects, you know that errors in cost and timing estimates can have a significant...
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The usual stage at which risk tolerance is applied is the development phase of a project. Companies are comfortable with the notion of failed exploration wells, but not failed developments. Stringent...
Posted by: Pat Leach on 05/03/2011 03:14 PM
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Routine decisions – whether business or personal – are easy. We make them without a lot of thought. Kahneman and Klein identified four criteria to be met in order to make a decision by...
Posted by: Pat Leach on 03/31/2011 12:06 PM
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In any situation where you need to make a critical decision, there is always some level of risk – whether you’re working on an internal reorganization or considering a multi-billion dollar...
Posted by: Paul Wicker on 07/07/2010 08:55 PM
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News/Features
Apr 17, 2012
Applying Decision Analysis When Faced With 1,000 Decisions
Applying Decision Analysis When Faced With 1,000 Decisions
For any strategic initiative, applying decision analysis (DA) is viewed as best-in-class approach for the selection of the optimal decision path.
Blog
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With today’s drilling and completion costs accounting for nearly two-thirds of the capital expenditures of some projects, you know that errors in cost and timing estimates can have a significant impact on project economics. Having few analogous wells and limited data, the perception biases of your drilling team, whether pessimistic or optimistic,might distort the ranges of uncertainties used.
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05/03/2011 03:14 PM
Posted by: Pat Leach
The usual stage at which risk tolerance is applied is the development phase of a project. Companies are comfortable with the notion of failed exploration wells, but not failed developments. Stringent probability-of-success hurdles often result.
Categoried under: Decision Making Analysis, Risk Mitigation, What If Scenarios, Decision Management, Decision Making Process
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07/07/2010 08:55 PM
Posted by: Paul Wicker
In any situation where you need to make a critical decision, there is always some level of risk – whether you’re working on an internal reorganization or considering a multi-billion dollar acquisition.
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