Field Development Economics

Management and Information


In this course, participants will learn to construct an economic evaluation of a field development opportunity using common industry indicators. Supported by many practical examples, the course covers both greenfield and brownfield situations. The course is supported by full text, copy of slide presentation, glossary of terms, and bibliography.

Topics Include:

  • Data gathering and capturing uncertainty
  • Cash flow analysis
  • Tax and royalty systems
  • Production sharing contracts
  • Discounting and assessing the cost of capital
  • Economic indicators and project ranking
  • Incorporating uncertainty into economic models and assessing risk
  • Incremental project economics

Learning Level


Course Length

1 Day

Why Attend?

The information shared in this course will assure your decisions in the field are backed by sound economics.

Who Should Attend

This course is for engineers, geoscientists and managers who want to use economic methods for making field development decisions. Service company staff will learn to evaluate the economic benefits their products can offer, and investors will be better able to rank their oil or gas opportunities.


0.8 CEUs (Continuing Education Units) are awarded for this 1-day course.

Cancellation Policy

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.


Mark Cook has worked in the oil and gas industry for more than 30 years, the first eleven for Shell International. While at Shell, Cook worked internationally as a reservoir engineer. He founded TRACS International Consultancy Limited in 1992 and is currently Principal Reservoir Engineer at AGR (incorporating TRACS International), where he is active in both training and consulting.

Cook’s specialties are reservoir engineering, petroleum economics, and risk analysis. He has taught the SPE training course on petroleum economics for more than 10 years, and during 2002 he was an SPE Distinguished Lecturer on the same topic. Cook holds a BS in Chemical Engineering from the University of Nottingham and an MBA from Henley Management College.

David Palmer has worked within key oil-and-gas-industry commercial operations for 20 years, initially for BNOC/Britoil (the UK’s former national oil company), followed by 13 years in central commercial management roles with BP’s upstream division. As a business economist and career commercial specialist, he managed teams and partnership interfaces at the heart of corporate investments, was a leading contributor of developing decision methodology, and managed the full range of commercial skills development programs. Since leaving BP he has maintained industry currency as associate training consultant with TRACS International, building further upon extensive experience with a range of IOC’s and state oil and gas agencies. Palmer has a BA in economics.