Petroleum Technology Luncheon - May 11th

The next Petroleum Technology Luncheon is on Tuesday May 11th.

Location:
MS Teams Meeting Online
(see link below)
Time:
Presentation: 11:30AM - 12:30PM
Cost:
N/A

Decision Analysis in the O&G Industry – Practical Applications


Brian Putt


Click link below just before joining MS Teams meeting: https://tinyurl.com/4y6bssd9


Abstract:

The Oil and Gas industry makes some of the biggest investments and often the riskiest investments. Particularly in these times of low oil prices, good decision making is critical to success. The Decision Analysis has evolved since the ‘80s and has been used at Chevron successfully since 1990. We will discuss the application of Decision Quality and the DA tools, evaluation techniques and visualizations that help Decision Makers make good decisions considering uncertainty in our industry. This will include a discussion of value of information as it could apply to resource estimation.

Bio:

Brian is currently on the Board of Directors for SDP, acting Chair of the SDP-San Francisco Bay Area chapter and sits on the SDP certification committee. He is a Fellow in the Society of Decision Professionals. He also donates time to the non-profit Probability Management that promotes the “Arithmetic of Uncertainty” and is the Technology and Application Chair for Probability Management. He currently consults on Decision Quality using probabilistic analysis and maintains a YouTube Channel that includes many videos about applications of decision analysis using Excel and SIPmath. He is a member of SPE and INFORMS.

Brian worked multiple decades with Chevron performing project economic analysis in the petroleum industry, mostly upstream. He was one of the leaders in Chevron that developed the Decision Analysis practice used Worldwide. He holds a BA in Economics from Claremont McKenna College, BS in General Engineering Stanford University, and a MS in Operations Research from Stanford University.