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Seminars/Programs Detail

Basics of Petroleum Economics
Instructor: Mark Kaiser
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2014 brochure
View Course Brochure (PDF Format)

Economics is the primary link between decision making and profitable operations and it is one of the four pillars of the oil and gas industry (the other three being geology, engineering, and probability/statistics).

 

The purpose of this seminar is to introduce you to the economic concepts, strategies, and basic tools utilized in the oil and gas industry.  Knowing these will assist you in making better decisions and understand the tradeoffs and risks associated with making these decisions.

 

The scope of this program covers the entire life cycle from exploration through decommissioning.

Economics will be used as a conceptual tool to facilitate your understanding.  The instructor’s approach is applied, practical and broad, providing you with the background necessary to tackle and understand a variety of problems. 

Audience:

·         Entry- and Mid-Level Managers

·         Landmen

·         Accountants

·         Oil and Gas Professionals

·         Financial Analysts

·         Geologists

·         Exploration and Reservoir Engineers

·         Regulators

·         Policy Analysts

·         Petroleum industry personnel who would like to develop or increase their knowledge in basic economic analysis, cost estimation, and profitability assessment

Objectives:

During this two-day seminar, you will…

·         Learn how to organize and frame economic problems in the oil and gas industry

·         Apply and compute basic economic criteria

·         Structure problem solving and build cash flows

·         Increase your knowledge in basic petroleum economic analysis, cost estimation, and profitability assessment

 

PROGRAM HIGHLIGHTS:

·         Understand the essential elements of how cash flow components are estimated using real-life examples!

·         Investigate frequently encountered problems in analysis and understand the limitations of data sources.

·         Discuss tradeoffs in field development and design

·         The use of case studies and current events will be used to illustrate the application of the course material.

·         Real-world examples will be used.

Comments:

Seminar Topics:

 

·         Recognize and use basic units, conversions, and classification systems common to the oil and gas industry

·         Quantify oil and gas problems and understand the uncertainty inherent in calculations

·         Recognize the important elements of exploration economics, including payoff, expected value, money on the table, and related terms

·         Describe the tradeoffs involved in field development plans through offshore and unconventional shale play examples    

·         Build cash flow models for producing properties   

·         Evaluate the economic viability of a project

·         Distinguish the price and quality differences between crude blends

·         Critique the components and assumptions of evaluation, including oil and gas price determinants and their relationship to each other, cost elements, and related factors

·         Understand the role of supply-demand fundamentals and their impact on day rates, prices and costs

·         Use economic principles to organize your understanding of the industry

·         Distinguish the primary cost components across the life cycle from exploration through decommissioning

·         Assess and use market data to value properties

·         Understand SEC reserves disclosure requirements

·         Use the volumetric reserves formula and classify reserves

Length: 2 days, 8:30 am -4:30 pm each day
Accreditation: Professional Development Hours (PDHs) = 12.5 Continuing Education Units (CEUs) = 1.25 This course has been applied for American Association of Professional Landmen RLP and CPL Hours, Continuing Legal Education Hours and CPD Hours in many states.

Register for this course:
To register, select the date you would like to attend, click on the appropriate registration fee, enter the number of people attending, then click the Register Online button below. Online registration applies to credit card payments only.

  Dates Location

September 16-17, 2014 * Denver Marriott Tech Center Hotel, 4900 Sy Syracuse St., 303-779-1100, Denver, CO
$1295.00 Early Registration Fee     Deadline Date : 12 Aug 2014
$1395.00 Single Registration Fee
$995.00 Group Discount (available to 3 or more from the same company)
October 21-22, 2014 * Houston Marriott West Chase, 2900 Briarpark Drive, 713-978-7400, Houston, TX
$1295.00 Early Registration Fee     Deadline Date : 23 Sep 2014
$1395.00 Single Registration Fee
$995.00 Group Discount (available to 3 or more from the same company)

 
Number of people attending:
   
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