Geological Risking Course
Understanding and Quantifying Uncertainty in Exploration
This Geological Risking course is tailored for oil and gas professionals seeking to understand and perform risk assessments on exploration prospects confidently. It covers essential statistical methods, including Monte Carlo analysis, to evaluate the probability of success and volumetric outcomes within hydrocarbon systems. The course emphasizes a consistent risking framework for comparing multiple prospects and reducing uncertainties through practical, hands-on applications. Suitable for geoscientists, engineers, and planning staff, it bridges fundamentals through advanced concepts, ensuring accessibility for early career to senior professionals. Communication techniques for effectively conveying risk to stakeholders are also included, supporting better decision making in exploration investments.Read more...
Who Should Take This Course
• Reservoir engineers and planning staff
• Exploration managers and decision makers
• Geoscientists evaluating exploration risks
• Professionals seeking risk assessment skills
What You Will Learn
• Apply Monte Carlo analysis for volumetrics
• Communicate risk effectively to stakeholders
• Use risking frameworks for consistent evaluation
• Perform risk assessments using statistical methods
Why This Course Works
• Make rational drilling decisions
• Improve stakeholder communication on risk
• Compare exploration prospects apples-to-apples
• Support company’s long-term exploration health