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McCombs School of Business

Decision and Risk Analysis in Hydrocarbon Exploration and Production

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Next dates

May 24
Houston, TX, USA
USD 1395
USD 1395 per day


Gain the information and options available to enhance economic value and manage project risks in the hydrocarbon production industry.

Learn how to approach modeling decisions and uncertainties that arise in oil and gas project management. These risks include those associated with estimates of hydrocarbon reserves and recovery rates, as well as the economic risks related to investment costs and oil prices. By analyzing examples and case studies, you will see strategies that work for industry leaders. In addition, software demonstrations familiarize you with the analysis tools and practices.


Examine the economics, strategy, business valuation, and finance specific to the energy industry, offering you a focused look at your field.

One-Day Focused Program

Registration begins at 8:00 a.m. and class runs 8:30 – 4:30 with a one-hour networking lunch included.

Houston, Texas

Our Energy classes are held in Houston, the energy capital of the world.


  • Learn how risks should be incorporated into decision making in oil and gas investments
  • Understand how to frame the decision opportunity (decision hierarchies and strategy tables)
  • Model complex projects with influence diagrams
  • Learn how to do deterministic sensitivity analysis (Tornado Diagrams)
  • Develop skills using decision trees as a means of structuring risky problems
  • Gain the skills to enhance economic value and manage project risks
  • Experience hands-on work with software tools for analysis of risky decisions (Participants will be encouraged to use personal laptops.)


  • Analyzing risk as it relates to the production of hydrocarbons over the life of an oil field
  • Economic modeling
  • Incorporating risk analysis into decision making in oil and gas investments
  • Managing project risks
  • Enhancing economic value


Dr. James S. Dyer holds the Fondren Centennial Chair in Business in the McCombs School of Business.. He served as chair of the Department of Information, Risk, and Operations Management for nine years (1988-97). During the spring semester of 1999 he was the Philip J. Rust Visiting Professor of Bu...
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