Wed, Feb 15, 2017 5:30-8:30pm
Experienced and successful geoscientists and decision makers realize that an independent “second opinion” adds value to major investment decisions. Second opinions can add real value by providing assurance that the recommending team’s approach is sound, and that their volume, chance and value estimates are either reasonable, or should be adjusted. In addition, the assurance process can illuminate potential issues that decision makers need to know before going forward, or not. However, there are many ways of implementing assurance, and these range from ineffective to very effective. During the past few decades, Rose & Associates has seen most of industries range of assurance implementation. In this talk, I’ll illustrate the need for assurance in both conventional and unconventional projects, and compare and contrast the observed least effective to most effective industry practices. Finally, I’ll share some of the results of a 2015 industry-wide assurance process survey.
5:30pm Social Hour
Speaker Peter Carragher, Rose & Associates, LLP
Peter Carragher has been involved in oil and gas exploration since 1974 (after receiving his B.S. degree in geology from King’s College London and joining Amoco). He has evaluated and drilled prospects in most of the world’s oil and gas provinces. Since 1990 he has been involved in developing and ...
Peter Carragher has been involved in oil and gas exploration since 1974 (after receiving his B.S. degree in geology from King’s College London and joining Amoco). He has evaluated and drilled prospects in most of the world’s oil and gas provinces. Since 1990 he has been involved in developing and applying exploration risk and resources assessment techniques and portfolio management processes.
From 1989 to 1994 Pete served as Manager of Amoco’s Basin Analysis Group for Worldwide New Ventures and was then promoted to lead Amoco’s Prospect Quality Team from 1994 until 1997, an effort directly responsible for creating value for Amoco’ Worldwide Exploration effort. He then served for 2 years as Manager, Upstream Portfolio Analysis for Amoco immediately prior to the merger with BP. In 2003 BP named Pete as Head of Discipline for Worldwide Exploration, and later named him VP of Geoscience and Exploration, helping assess new resources and identifying new areas of exploration potential. Pete also led BP’s team that liaised with seismic acquisition vendors at the portfolio level to best leverage the company’s budget.
Since joining Rose & Associates in 2010, Pete has been involved in numerous conventional and unconventional assessments and valuations. Pete has extensive experience in designing strategy, process, and organization capability that has proven to lead to improved business performance. Pete is Managing Partner at Rose & Associates, LLP.