Essential Petroluem Economics & Decision-Making
May 20 @ 8:00 am - May 23 @ 5:00 pm UTC-6
Speaker: Mark Cronshaw Live, Virtual Program 8 PDHs/1.3 CEUs
LIVE, ONLINE PROGRAM
May 20-23, 2024 QUICK REGISTRATION LINK
Is it best to make an investment in a field, a well, or a workover? How do I make optimal decisions when the future is uncertain? Is it worth investing in something to reduce costs?
Do we gather information to reduce uncertainty, such as seismic, or not?
This course will help you answer these questions. The instructor, Mark Cronshaw, introduces the economics concepts, strategies and basic tools utilized in the oil and gas industry which are needed to learn how to assess the economic attractiveness in the face of uncertainty.
You will learn how and why applying the following ‘tools’ will help you make better decisions and how to recognize attractive opportunities and avoid bad ones:
Optimal Choice; Decline Curves; Reserves; Cash Flow; Before and After Tax Economics; Discount Rate; Incremental, Acquisition, and Exploration Economics; Value of Information; Monte Carlo Methods; plus a basic understanding of oil and gas.
“Dr. Cronshaw..teaches technical concepts in a non-technical way. As he puts it, we first learn to ‘crawl so we can walk’. I would highly recommend this course for any professional working in the energy industry.”