Oil and Gas

Oil and Gas | Basin Analysis

Data Room Strategies Workshop

Course Code: N564
Instructors:  Mark Thompson
Course Outline:  Download
Format and Duration:
2 days
4 sessions

Summary

Business Impact: Does your team have a disorganised approach to data rooms visits, resulting in poor understanding of the opportunity on offer? Has your company missed an important farm-in opportunity because you failed to identify the key data provided in a data room? Do you come out of data rooms thinking that you needed more time to assimilate the data? This hands-on course offers the opportunity to bring order to chaos for your next data room visit, by teaching participants how to formulate a work strategy for evaluating an opportunity.

The workshop involves the rapid assessment of a farm-in opportunity for a block, where your team must build the technical case in order to decide whether to recommend or decline the opportunity. This is a fun exercise involving diverse plays, trap types, and different risk profiles. This course is taught by an instructor with over 40 years of industry experience and a veteran of many data room assessments.

Duration and Training Method

This is a classroom or virtual classroom workshop, comprising short talks, discussions, and an involved and informative team exercise.

Course Overview

Participants will learn to:
  1. Prioritise the data in a short time frame.
  2. Apply a methodical approach to data rooms by assessing and assigning tasks that utilise the team’s strengths.
  3. Perform quick interpretations, calculations, and estimates.
  4. Engage the team throughout the process and utilise the ‘team brain’.
  5. Identify a good opportunity.

The following is a summary of the planned content.

Overall strategy

  • Aims of data room visits
  • Team composition
  • Understanding the data available
  • How to assign tasks utilising the strengths of the team
  • Engagement of the team throughout the process and check-ins
  • The desired outcome in terms of the geological assessment
  • Some missed opportunities in the past; What does a good opportunity look like?

Data room sessions - team exercise

  • Define the regional setting
  • Evaluate play elements
    • Trap definition using sesimic data
    • Reservoir effectiveness
    • Seal capacity
    • Charge access
  • Perform risking
  • Resource volume estimation

Team feedback

  • Team presentations
  • A worked solution
  • Assessment of the team’s performances – what went well, what didn’t go so well and what needs to be done better next time?

Concluding remarks and summary of best practice

This course is aimed at geoscientists and team leaders working on basin, play, and prospect evaluation. Those with 5 years' or more experience would benefit most from this course.

Mark Thompson

Background
Mark is Director of Lurch Oil Consultation Limited and is an Associate member of RPS Nautilus. As well as teaching courses on the Nautilus programme, Mark has been deeply involved in delivering training courses as part of a cohesive exploration capability development programme for a national oil company.

Mark is from Staffordshire in the British Midlands. He went to Cambridge University 1974 to 1977 to do a Natural Sciences degree, specialising in Geology. Mark joined BP straight out of University and successfully developed a career in both exploration and development geology, attaining the position of Senior Exploration Advisor before leaving BP at the end of 2014. He has been involved in many hydrocarbon discoveries worldwide in numerous basins. He was for many years a global coach in BP, where he prepared and taught many internal courses.

Mark’s career has taken him on many postings including Brazil, Egypt, Indonesia and Norway. His main interests include basin analysis, play fairway and prospect analysis. He has published on a wide variety of topics including alternative explanations for depth dependent stretching, heat flow associated with underplating and play fairway analysis. Interests outside geology include walking and orienteering.

Affiliations and Accreditation
MA University of Cambridge - Natural Science, Geology

Courses Taught
N005: Tectonic Controls on Basin Development and Petroleum Systems
N378: Basin Analysis for Petroleum Geoscientists
N380: Seismic Interpretation Workshop: Play Recognition on Passive Margins
N425: Play Analysis for Targeted Prospect Identification
N477: A Systematic Approach to Defining and Evaluating Stratigraphic and Subtle Combination Traps
N522: Integrated Charge Access Evaluation: The Key to Successful Exploration
Basin, Play, and Structural Analysis
Basin and Play Evaluation

CEU: 1.4 Continuing Education Units
PDH: 14 Professional Development Hours
Certificate: Certificate Issued Upon Completion
RPS is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. We comply with the ANSI/IACET Standard, which is recognised internationally as a standard of excellence in instructional practices.
We issue a Certificate of Attendance which verifies the number of training hours attended. Our courses are generally accepted by most professional licensing boards/associations towards continuing education credits. Please check with your licensing board to determine if the courses and certificate of attendance meet their specific criteria.