utulsa.edu

Essential Petroleum Economics & Decision-Making

This course introduces the economics concepts, strategies and basic tools utilized in the oil and gas industry which is needed to learn how to assess the economic attractiveness of upstream investments in the face of uncertainty.

You will learn how and why applying these 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.

2020 SEMINAR SCHEDULE:
August 19-20 | Houston, Texas | REGISTER ONLINE
September 30 – October 1 | Oklahoma City, OK | REGISTER ONLINE

Oil and gas companies routinely use economic tools to make decisions about investments and divestitures. This course will both provide background on the upstream oil and gas industry and also introduce you to the economic decision-making tools used to make high stakes decisions in uncertain environments.

WALK AWAY KNOWING:
* How to organize and frame economic problems in the oil and gas industry
* Apply and compute basic economic criteria
* Build and evaluate cash flows
* Increase your knowledge in basic petroleum economic analysis, cost estimation, and profitability assessment
* Understand the differences in risk and return of assets
* Recognize and use basic units, conversions, and classification systems common in the industry

INSTRUCTOR:
Mark Cronshaw, PhD is a principal with Resource Economics, LLC in Boulder, Colorado. He has years of experience as a resource economist, financial analyst, and engineer. His domestic and international projects have included valuation, gas market development, regulatory review, project planning, cost contingency, and assessment. He has taught at the Colorado School of Mines and the University of Colorado. Dr. Cronshaw has a PhD from Stanford, an MBA from Southern Methodist, and MS (Chem.E.) from Caltech and a BA (Chem.E.) from Cambridge UK.
Mark’s extensive combination of experience in economics, business and engineering, brings a rare perspective on many aspects of oil and gas opportunities during this two-day seminar.

PROGRAM HIGHLIGHTS:
* Understand the essential elements of how cash flow components are estimated using real-life examples.
* Economic criteria for screening and ranking projects.
* Field development profiles and cash flow streams.
* Case studies and current events will be used to illustrate the application of the course materials.

DESIGNED FOR…petroleum industry personnel who would like to develop, or increase, their knowledge in basic economic analysis, cost estimation, and profitability assessment. Participants have included:
Entry and Mid-Level Managers; Landmen; Accountants & Finance Personnel; Project Managers; Government Officials; Finance Analysts; Production Engineers; Geologists; Regulators; Reservoir Engineers; Planners; Policy Analysts
COURSE OUTLINE SUMMARY

  • Oil and Gas Industry
  • Predicting the Future
  • Choices, Uncertainties, Objectives
  • Conventional and Unconventional Resources
  • Productions and Reserves
  • Prices and Costs
  • Cash Flows
  • Discount Rate
  • Financial Metrics
  • Before and After Tax Economics
  • Examples and Exercises throughout program

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ACCREDITATION INFORMATION

  • 12.5 PDHs (Professional Development Hours)
  • 1.25 CEUs (Continuing Education Units)
  • American Association of Professional Landmen may approve this course for RLP, CPL hours
  • State Bar Associations and State Accountancy Boards may approve this course for CLE and CPE Hours

No prerequisites for attendance.

DATES, TIMES & LOCATIONS
The course runs from 8:30 am to 4:30 pm each day.August 19-20, 2020 | Houston, Texas
Hyatt Regency Galleria Hotel
2626 Sage Drive Road | 832-803-1234

Sept. 30 – Oct. 1, 2020 | Oklahoma City, Oklahoma
Skirvin Plaza Hilton H0tel
One Park Avenue | 405-272-3040

Please contact the hotel directly if you are needing overnight accommodations.

REGISTRATION FEE
$1,195 per person: BEST DEAL DISCOUNT
$1,395 per person: EARLY BIRD DISCOUNT
$1,395 per person: TEAM DISCOUNT (available to groups of 2 or more)
$1,695 per person: Regular Course Fee

TESTIMONIALS
“Excellent class, fantastic instructor, and helpful materials made this class a valuable and worthwhile two days.” – Lease & Title Analyst III
“Very informative & well well taught/presented. Mark keeps your attention and provides great explanation of the materials.” – Sr. Regional Landman
“This course was engaging and highly educational. I was impressed with the efficiency and value of the information.” – Treasury Analyst
“Fantastic course!” – Production Analyst
August 19-20, 2020 | Houston, TX Register Online
Sept. 30-Oct. 1, 2020 | Oklahoma City, OK Register Online

In-Company Training

This course is also available for on-site training. In-company courses for your group (12+) simplifies scheduling and maximizes training dollars. Request a Course Quote for In-Company Training