Speaker: Luis Mendoza-Natividad
Topic: Decision Quality in Field Development Strategies
Date: Wednesday, May 15, 2019
Location: Brookhaven College Geological Institute, (Map)
Cost: $25 if SPE member paying electronically in advance, $10 for students, retirees, and members in transition. All others $30.
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Luis Mendoza-Natividad joined Decision Frameworks in 2013 and as a senior consultant he has engaged in Decision Analysis project consultation with super-majors, independents, service companies, and national oil companies on projects ranging from geotechnical uncertainty analysis to joint-venture structure framing, from acreage acquisition and exploration to asset decommissioning, focusing primarily in the upstream and midstream segments. He also co-authored the report mentioned in the abstract.
Luis enjoys teaching Decision Quality to experienced and learning practitioners, focusing on concepts in decision/strategy framing, value-of-information analysis, and economic modeling and probabilistic analysis (with Excel and Enersight engines).
Luis runs Decision Frameworks Dallas while continuing to support the Houston business. His prior experience in healthcare includes the application of management sciences in decision support at the Baylor Healthcare System in Dallas, TX.
His academic background is in Operations Research and Industrial Engineering, with a B.S. from Texas A&M University, a M.S. in Systems Engineering from the University of Texas at Arlington, and Ph.D. coursework in Decision Analysis from the University of Texas at Austin.
As the rapid pace of development in unconventional assets affords teams little time to strategize, decision analysis offers a fit-for-purpose approach to frame and evaluate potential field development strategies. This approach ensures the teams appropriately frame the decisions, develop diverse alternatives, gather reliable inputs, conduct logical analysis, and understand the values and trade-offs of each alternative.
We will cover a simple case study, soup to nuts, on the frame and evaluation of an unconventional field development modeled after an Eagle Ford asset. The review of the uncertainty analysis will present a probabilistic view of the value of and the trade-offs between competing development strategies.
Decision Analysis, as a discipline, has been widely adopted across the oil and gas industry because of its ability to clearly define problems, potential solutions, and manage risks for better “decision quality.” The SPE co-sponsored an effort to create a guidance document (SPE Technical Report SPE-181246-TR) on the application of decision analysis in joint venture projects to gain alignment as much as understanding differences of the participants regarding the opportunity, alternatives, information, values, trade-offs, logical analysis and commitment to action.