Oil and Gas Economics and Uncertainty (1- or 2-Day option)

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Disciplines: Management

Course Description

This course will teach participants how to identify, evaluate, and quantify risk and uncertainty in every day oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The course also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.

Topics:

• Strength and weakness of traditional econometric analysis methods
• The efficient market hypothesis and its application to oil and gas price forecasting
• Proven volatility/uncertainty reduction methods and tools for the operational side of business
• How to scientifically and statistically incorporate differing perspectives
• Ways to develop a revenue forecast that takes the uncertainties into account
• Portfolio design and management

Learning Level

Intermediate

Course Length

1- or 2 Days

Why Attend

This course will help you develop a better understanding of factors that could impact your daily economic decisions as well as establish a new set of applicable tools to use in your professional career.

• Knowing today’s oil price, would you like to know the certainty range of tomorrow’s oil price – in a matter of seconds?
• How about the certainty range of next week or next month’s oil price?
• Again, in matter of seconds?
• How about next year’s oil price range?
• Does your operating cost ever change? If it does, would you like to know the certainty range of next month’s operating cost – in minutes?
• What about next year’s operating cost?
• Rolling the above factors together, would you like to know the certainty ranges of future net cash flow? (Warning: The answer may scare you.)
• With the above uncertainties in mind, would you like to know a set of simple tools that will help you quantify, manage and reduce the above uncertainties?

Who Attends

This course is for professionals involved with economic evaluations, forecasting, and economic decisions in the upstream oil and gas business. It targets producers and operators with oilfield experience.

Special Requirements

Attendees must bring laptops to class.

CEUs

 0.8 CEUs (Continuing Education Units) are awarded for the 1 day course. 1.6 CEUs are awarded for the 2-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructor