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PESA WA Evening Lecture – Hydrocarbon volumetrics – it’s not that hard is it?

Tuesday, 4 September, 2018 @ 5:30 pm - 8:00 pm

Free

Guest Speaker: Dr Simon Molyneux

Dr Simon Molyneux is a geoscientist and founder of Molyneux Advisors. He has worked internationally for over 20 years in hydrocarbon exploration and development for Santos, Talisman Energy, Shell, Mobil and BP. He developed his interest in volumetric assessment while managing risk and resource reviews for Talisman Energy. Today he is interested in working with clients to clearly describe subsurface opportunity and resource throughout the asset lifecycle.
He has a MA in Earth Science from the University of Cambridge, a PhD in Structural Geology from the University of Durham and a Certificate in Decision and Risk Analysis from Stanford University.

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Simon Molyneux

Abstract

It is 20 years Peter Rose established what has become close to a standard methodology for probabilistically modelling of hydrocarbon volumes. The ‘Rose’ approach provided simple rules to characterise each opportunity. Robust discussion on definition of the P1, P10, P90 and P99 have been a firmly embedded part of subsurface reviews in many companies.
Fast forwarding to the present, computational power has increased exponentially bringing probabilistic simulation to all aspects of the oil and gas business and with it very precise results. Machine learning and other guided computational techniques offer the prospect of further precision just around the corner.
It is timely to reflect that the rocks come first and have a habit of surprising us when we turn the drill bit.
In this talk, volumetric computation examples will be considered and practical exercises in estimation undertaken. The impact of a decision analysis approach will be considered and a discussion undertaken as to how numerical simulation can be better used to characterise and more powerfully communicate the opportunities.

Details

Date:
Tuesday, 4 September, 2018
Time:
5:30 pm - 8:00 pm
Cost:
Free
Event Categories:
  • Venue

    The George Hotel
    216 St Georges Terrace
    PERTH, Perth 6000

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