BOOKS ABOUT PLANNING AND EVALUATION TECHNOLOGY
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Corrections and Extensions
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Dr. Paul Newendorp began his career in 1959 as a petroleum engineer for Pan American Petroleum Corporation (now Amoco Production Company). During two later educational leaves of absence he completed his MS and Doctorate degrees in Petroleum Engineering from the University of Oklahoma. In 1968 he developed a two-week short course on petroleum exploration economics and risk analysis. The course was based, in part, on his Doctoral research on decision theory and earlier industry work experience.
For the next 21 years Paul traveled throughout the world teaching his short course. Entitled "Decision Analysis for Petroleum Exploration," the course introduced many new concepts into the lexicon and accepted practice for analyzing drilling prospects. Included was his pioneering work on the use of Monte Carlo simulation for the quantification of exploration risks and uncertainties. His course, research, and numerous publications also brought into focus how established decision theory methods such as the expected value concept, decision tree analysis, and utility theory can be used to advantage in evaluating drilling prospects. This book was written in 1975 for use as a text for his 2-week course with the same title.
During his career Paul was an active member of the Society of Petroleum Engineers. He served in various leadership roles and received numerous awards, including the SPE Section Service Award. In 1987-1988 he was appointed an SPE Distinguished Lecturer. He was also an associate member of the American Association of Petroleum Geologists.
Dr. Newendorp retired in 1989 and now lives in Colorado. His retirement activities include work as a volunteer for the U.S. Forest Service.
Has also contributed to our course materials and, thus, portions of this book. Tim will be listed as co-author on the next edition.
Upon nearing retirement in 1988, Paul Newendorp encouraged John Schuyler, one of his former students and a longtime colleague, to design a successor course. John developed what has become his primary course, "Petroleum Risks and Decision Analysis," and variants which have been presented more than 200 times in 34 countries since 1990. This one-week course includes and extends the concepts in Dr. Newendorp's book.
John holds BS and MS degrees in Mineral-Engineering Physics from Colorado School of Mines and an MBA from University of Colorado at Boulder. He was formerly VP and Petroleum Evaluation Engineer with Security Pacific Bank, Planning and Evaluation Analyst and Manager-Business Systems for Cities Service Company, and a Senior Management Consultant with a national accounting firm. He is a CAM, CCP, CMA, CMC, DRMP, PE (CO) and PMP. He is a member of AACE, IMA, IMC, INFORMS, PMI, RMAG, SPE and SPEE. Project Management Institute published, Risk and Decision Analysis in Projects (1997 and 2001 editions).
John's petroleum industry training is sponsored by PetroSkills, LLC., the world leader in petroleum training. He is the course director. He and Tim Nieman teach the DA courses:
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Also available: Risk and Decision Analysis in Projects 3.1 Edition (2018) by John Schuyler
Work on a 3.1 edition is planned for this year. Anticipated availability late 2020.
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