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Oil & Gas Training
and Competency Development
Competency Management system SLB NEXT

GeoX Full Cycle Value Assessment Concepts and Application

This two day course provides participants with an overview of the concepts of full cycle value assessment of exploration ventures. The course combines lectures, exercises using manual calculations, and exercises using GeoX to illustrate assessment concepts and their application. 

The main part of the course is built around a realistic case with a cluster of exploration opportunities.  The introduction will look at a quick look screening model for a single target.  The concepts and application will then be expanded to handle multiple targets with staged, conditional exploration and exploitation activities that involve shared risk dependencies, shared facilities and shared fiscals.

An extra introduction course day for basic risk and resource assessment with GeoX can be run before the two days.

Day 1
  • Basic project valuation concepts
  • Decision, decision framing and decision making
  • Deterministic Assessment
  • Simple screening model
  • Calculation of NPV, IRR and PI
  • Simple decision tree and roll-up
  • Screening model with single flow E-D-P
Day 2
  • Results & results interpretation
  • Fiscal regime modeling basics
  • Basic uncertainty mechanisms
  • Stochastic Assessment and NPV
  • Determining commerciality threshold size
  • Multi-target exploration and exploitation
Learning activity mix
  • Reservoir engineers and economists working with exploration value assessment
  • Exploration geologists/geophysicists generate prospects in exploration and want to understand value assessment process
  • Expert, advisors involved in Peer reviews, QC, technical advice and exploration decisions
  • Managers involved in exploration decisions, prospect ranking and exploration portfolio
  • Basic project valuation concepts
  • Decision, decision framing and decision making
  • Deterministic Assessment
  • Simple screening model
  • Calculation of NPV, IRR and PI
  • Simple decision tree and roll-up
  • Screening model with single flow E-D-P
  • Results & results interpretation
  • Fiscal regime modeling basics
  • Basic uncertainty mechanisms
  • Stochastic Assessment and NPV
  • Determining commerciality threshold size
  • Multi-target exploration and exploitation

Participant should either have a background in exploration economics and/or reservoir engineer background. Knowledge about geosciences, prospect evaluation and/or experience from exploration decisions is beneficial.

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