Field Development Economics
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.
- 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
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.
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 firstname.lastname@example.org; 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.
This session will be taught by field expert Rodney Schulz.
Mark Cook has worked in the oil and gas industry for more than 22 years, the first eleven for Shell International. While at Shell, Cook worked internationally as a reservoir engineer. He is currently managing director of AGR Petroleum Services (TRACS International Consultancy, Ltd.), 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 five years, and during 2002 he was an SPE Distinguished Lecturer on the same topic. Cook holds a BS degree in chemical engineering from the University of Nottingham.
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.