INSTRUCTOR-LED, LIVE, VIRTUAL FORMAT | Daily Morning & Afternoon Sessions
|Spring 2021 Schedule:
* June 14-17, 2021 (Monday – Thursday)
Class size limited…Sign up today!
|“Dr. Cronshaw effectively presents petroleum economics in a style that is very entertaining and understandable to the non-economist.”
“There are lots of training classes available for professionals to take to further advance their knowledge. This class should rank at the top for all O&G professionals.”
“Excellent course delivered by a talented and very experienced instructor who was able to engage course attendees effectively for the duration of the course even though it was delivered virtually.”
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.
Oil and gas companies routinely use these economic tools to make decisions about investments and divestitures. This course provides an overview of the entire oil and gas industry (upstream, midstream, and downstream), will teach upstream economics, and introduces the economic decision-making tools used to make high stakes decisions in uncertain environments.
WHY IS IT IMPORTANT TO UNDERSTAND PETROLEUM ECONOMICS?
* Managers and senior executive use economics to make capital decisions, and economics analysis is used both for investments and divestitures
* Optimal oil and gas decisions and operations enhance the success of a company, which in turn, enhances your career
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.
Entry and Mid-Level Managers; Landmen; Accountants & Finance Personnel; Project Managers; Government Officials; Finance Analysts; Production Engineers; Geologists; Regulators; Reservoir Engineers; Planners; Policy Analysts
YOU WILL LEARN:
* How to make optimal decisions in the oil and gas industry
* Construct and evaluate cash flows
* Apply and compute basic economic criteria
* Increase your knowledge of global and local oil and gas, basic petroleum economic analysis, cost estimation, and profitability assessment
* Model risk and return in the face of uncertainty
* Learn and use basic units, conversions, and classification systems common in the industry
|COURSE OUTLINE SUMMARY
No prerequisites for attendance.
DAILY SESSION TIMES:
NOTE: # of participants is LIMITED – enroll early!
You will receive a printed copy of the course workbook with exercises to use throughout the program. Please have a calculator handy during the course.
COURSE DATES, FEES, DEADLINES:
FEBRUARY 22-25, 2021
* BEST DEAL DISCOUNT ($995/person) ends Jan. 21, 2021
Last Day to Register: February 16, 2021
JUNE 14-17, 2021
* BEST DEAL DISCOUNT ($995/person) ends May 5, 2021
Last Day to Register: June 8, 2021
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