SPE reserves the right to cancel or re-schedule courses at will. Please check that page for specific cancellation information. Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Refunds will not be given due to no show situations. Cancellations made after the 14-day window will not be refunded. Cancellation PolicyĪll cancellations must be received no later than 14 days prior to the course start date. CEUsġ.6 CEUs (Continuing Education Units) are awarded for this 2-day course. Participants are also expected to have experience using models to solve problems, such as production or economic forecasting, estimating reserves or scheduling. No previous knowledge of the subject is assumed, although you should be familiar with Excel. Special RequirementsĪttendees must bring a laptop to class. This course is intended for engineers, geologists and geophysicists, managers, planners, economists and technical support staff. Because of that, it becomes even more important to plan ahead for variations and for what might be beyond single numbers. Better allocation of money for budgeting is needed, particularly in a competitive environment with significant swings in prices and expectations. This course helps with making better business decisions by addressing the uncertainty and risks that occur during projects or planning.
The course covers software basics such as menus, settings, distributions, outputs, graphics, statistics, sensitivity, analysis, interpreting results, and creating reports. Participants will also analyze historical data using histograms, cross plots, correlation in Excel, and software to fit probability distributions to data. Monte Carlo Simulation for the Oil and Gas Industryĭuring this course, participants work directly with spreadsheet-based risk simulation software (either Crystal Ball or to examine and modify prepared models and to create simple models of their own.
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