The lecture material contained in this lesson leads students through the basic methods in oil discovery, and the five (5) major components you need to cook, contain, and preserve a resource play. The lecture material should take ~25 minutes to discuss. Following the lecture material, the instructor(s) should introduce the exercise, which will take ~25 minutes of class time. The exercise has a rather long introduction, thus the exercise itself should be given to the students as homework. The introduction is designed to equip students to perform the exercise, and they should be able to complete the exercise individually or on a team of up to three (3) members.
The exercise is designed with eight (8) blocks that have only recently become available for open bids. Typically, the seller gives oil companies six (6) months to submit bids. This exercise simulates a feasibility study - does the fictitious Bonanza Basin have a good set of play elements, such that it is worth a more thorough investigation?
Use the exercise introduction slides (and speaking points) to get the students started. The student should be able to complete the exercise in 30 minutes.
At the end of the lecture, students should be able to:
- Describe the methods used to find hydrocarbons
- Describe the five (5) main play elements needed for success
- Interpret whether the fictitional Bonanza Basin has all of the necessary play elements