Set in the Permian Basin, our Permian Rush simulation requires teams to work within a budget to achieve the maximum increase to the net reserve value for their company through bidding for land, surveying, drilling and transportation.
The oil and gas industry is currently facing huge global challenges. We’ve been working with Professor Detlef Hallermann of Texas A&M University to develop a new business simulation that delivers individuals and teams in oil and gas first-hand experience of how to generate value in the Exploration & Production (upstream) sector.
During the simulation, teams run the exploration division of an independent company, bidding for land acreage over a fictional formation containing oil and gas reserves. Once they have acquired land rights, they can conduct geological surveys and decide to drill vertically or horizontally at varying depths. The reserves they discover can subsequently be sold and transported using various options including trucking, gas processing in midstream facilities and laying pipeline.
Success in the simulation is driven by a range of key factors including:
- a bidding strategy which acquires sufficient leasing blocks but does not over pay;
- getting sufficient geo-physical knowledge with seismic studies to make informed choices;
- making the appropriate drilling decisions for each block; and
- making the appropriate trade-offs and decisions on production and transportation for each drilled block.
Currently piloting with an oil and gas company in Colorado, US, the simulation is designed to run in a 3-4 hour long session including introduction and debrief, either face-to-face or online. Initial feedback from the first participants is that the simulation created a real buzz in the room and the organisers were very pleased with the impact of the session.
Ososim is a global learning technology company that helps organisations bridge the gap between theory and practice.
We work in more than 85 countries, with major global companies such as Deloitte, Cisco and Korn Ferry, as well as government institutions, leading business schools such as London Business School and IMD, and non-profit organisations such as the World Economic Forum. To find out more about our innovative, engaging learning experiences please contact +44 (0)1223 421 034 or visit www.ososim.com.