^{"A good science and engineering decision is a good business decision."}

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Course Comparisons

Petroleum Industry Courses by John Schuyler and Tim Nieman
offered through PetroSkills or OGCI

PRD = Petroleum Risks and Decision Analysis
EPP = Economic Evaluation of Prospects and Producing Properties
              * optional use of computers; now offered only to individual companies (in-house)
ADA = Applied Decision Analysis with Portfolio and Project Modeling
                                          ADA prerequisites      In ADA you will learn
  and a related course:
BEC = Basic Petroleum Economics (by Richard Seba)

* optional use of computers

PRD or EPP?

EPP has course content similar to PRD except with more emphasis on project, production and cashflow modeling and economic evaluation. To fit into one week, there is less attention to Bayes' rule and value of information problems. Computers may be used in EPP for a detailed cashflow modeling exercise.

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------------------------  Also of Possible Interest   ------------------------

Basic Petroleum Economics (BEC)
This popular course by Richard Seba provides a broad overview of petroleum industry economics. Persons new to evaluation work may want to take this course before PRD.  There is up to one day of common topics between BEC and EPP.
·  Choose BEC for broad evaluation and petroleum industry concepts.
·  Choose EPP for evaluation process details, modeling, and an introduction to decision analysis.

Prospect and Play Assessment (PPA) (by Mike Treesh)
This is a geology course, with minor attention to economic evaluation and risk quantification.

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