Geophysicist

Title: Geophysicist (WORD version)

Industry: Petroleum

Function: Corporate Services

Value-Added Results Performance Standards

New reserves
• New trends and prospects
• 1 million barrel of reserves additions net to the Company/year.
• 30%—50% overall success rate on wildcat drilling.

• Average of 1 economically successful major prospect/year.

• Team and VP Exploration are satisfied that the amount of effort matches the potential.

Seismic interpretation • VP Exploration is satisfied that:
• Data is analyzed correctly.

• Data is integrated with all the subsurface information.

• All the data are used.

• Map matches the interpretation.

• Meets agreed-upon deadline.

Subsurface interpretation

• Log analysis

• Volumetric maps

• Surface maps

• Isopach maps
• Management says they are satisfied that:
• Seismic data ties together.

• Log correlations look reasonable and are integrated into seismic interpretations.

• All the available data is used and fits the interpretations.

• Fits engineering data.

• Looks beyond known producing horizons.

• Interpretations identify new opportunities.

• Meets agreed-upon deadline.

• Management agrees that time spent matches the potential and the results.

• Exceeds = >50% of the recommendations match the results. • Other team members are satisfied that the interpretation:

• Integrate all relevant data.

• Makes a decision.

• Other team members are satisfied that the maps:

• Have contours that match the structural and net sand maps.

• Are consistent with the reservoir and seismic data.

• Wildcat well information matches the maps.

Log correlation and zone identification • Geologist and other team members are satisfied that the correlations and zones:
• Differentiate between structural and stratigraphic effects.

• Are consistent with all available data.

• Met agreed-upon deadline.

Drill well objectives and design criteria • VP Exploration, Operations Manager and Drilling Engineer are satisfied that the:
• Formation objectives are clearly identified.

• Evaluation procedures fit the region and are cost-effective.

• Well parameters are accurate.

Risk assessment • Team Leader says risk looks realistic based on appropriate weighting of all the available data.

Reserves estimate • VP Exploration is satisfied that the subsurface, seismic and nearby production data agree.
• Exceeds = Actual well reserves match predictions.

Completed projects • Work isn’t held up waiting for answers.
• Geophysicist offers useful ideas or information without being asked.

• Schedule is met.

• Exceeds = Comes in ahead of schedule and within ± 10% budget.

Seismic data acquisition, processing and modeling • VP Exploration is satisfied that the data enhances probability of success or quality of interpretation:
• Method of collection saves money.

• Increases quality of data, which makes the decision clearer.

Value-Added Results	Performance Standards
New reserves • New trends and prospects	• 1 million barrel of reserves additions net to the Company/year. • 30%—50% overall success rate on wildcat drilling. • Average of 1 economically successful major prospect/year. • Team and VP Exploration are satisfied that the amount of effort matches the potential.
Seismic interpretation	• VP Exploration is satisfied that: • Data is analyzed correctly. • Data is integrated with all the subsurface information. • All the data are used. • Map matches the interpretation. • Meets agreed-upon deadline.
Subsurface interpretation • Log analysis • Volumetric maps • Surface maps • Isopach maps	• Management says they are satisfied that: • Seismic data ties together. • Log correlations look reasonable and are integrated into seismic interpretations. • All the available data is used and fits the interpretations. • Fits engineering data. • Looks beyond known producing horizons. • Interpretations identify new opportunities. • Meets agreed-upon deadline. • Management agrees that time spent matches the potential and the results. • Exceeds = >50% of the recommendations match the results. • Other team members are satisfied that the interpretation: • Integrate all relevant data. • Makes a decision. • Other team members are satisfied that the maps: • Have contours that match the structural and net sand maps. • Are consistent with the reservoir and seismic data. • Wildcat well information matches the maps.
Log correlation and zone identification	• Geologist and other team members are satisfied that the correlations and zones: • Differentiate between structural and stratigraphic effects. • Are consistent with all available data. • Met agreed-upon deadline.
Drill well objectives and design criteria	• VP Exploration, Operations Manager and Drilling Engineer are satisfied that the: • Formation objectives are clearly identified. • Evaluation procedures fit the region and are cost-effective. • Well parameters are accurate.
Risk assessment	• Team Leader says risk looks realistic based on appropriate weighting of all the available data.
Reserves estimate	• VP Exploration is satisfied that the subsurface, seismic and nearby production data agree. • Exceeds = Actual well reserves match predictions.
Completed projects	• Work isn’t held up waiting for answers. • Geophysicist offers useful ideas or information without being asked. • Schedule is met. • Exceeds = Comes in ahead of schedule and within ± 10% budget.
Seismic data acquisition, processing and modeling	• VP Exploration is satisfied that the data enhances probability of success or quality of interpretation: • Method of collection saves money. • Increases quality of data, which makes the decision clearer.