N620 - Fundamentals of Petroleum Industry Economics

Quick Facts for this Event
Date: Nov 13 - 15, 2019
Length: 3 days (8:30 AM - 4:30 PM)
Location: Calgary, AB
Delivery Method: Classroom Training
CEU: 2.4 Continuing Education Units
PDH: 24 Professional Development Hours
Certificate: Certificate Issued Upon Completion
Fee: $ 2,375 CAD
 
All Dates for this Course
27-Mar-19 Calgary (3 days)$ 2,375 CAD
Click Here to request a proposal to have this course offered in-house at your location.
Course Description
This three-day course offers an opportunity for petroleum industry employees and related government, financial, legal and service industries to gain an understanding of the unique economic principles that drive the "oil business" to success in the 21st century. The course begins with a presentation of basic economic theory and develops its application to financing, finding, development, transportation and marketing of energy resources. The impact of these on the success or failure of the firm is then considered. The course uses real life examples and experiences and, wherever possible, case studies which allow all to participate in group discussion and learning. Participants are required to bring a laptop, loaded with Microsoft Excel, to the course.

Participants will learn to: 
•	Understand the context and methodology utilized by the industry in analysis, evaluation, selection and monitoring 
        of any project or segment of the organization.
•	Know and comprehend the elements, data sources, data value boundaries, terminology, tools and processes used 
        in economic evaluation.
•	Understand the effects of bounding data in consideration of and quantification of risk in project selection.
•	Have an awareness of the key metrics of the industry and develop the ability to use metrics in analysis.
•	Develop an initial proficiency in use of economic project modeling through use of spread-sheet financial  modeling 
        of multiple real-world problems with outcomes.
•	Learn how to undertake an analysis and present the results for management review.
•	Understand the unique language of industry economic analysis and discussion.
•	Gain an awareness of the external and internal forces, drivers and accuracy limits of cost, price and reserve 
        forecasting.
•	Learn how to develop an analysis strategy with consideration of physical product markets, hedging, costs, budget
        constraints, capital markets and corporate goals.

A complete set of course materials and lunches are included.

Course Syllabus
Download course syllabus
Course Outline
  • Basic Economic Concepts in the Petroleum Industry
  • Cash Flow and Profit Analysis Techniques
  • Performing Basic Economic and Financial Calculations
  • World Energy Economics
  • Competing Fuel Analysis
  • Theory of the Firm in the Petroleum Sector
  • Depreciation and Cost Resource Pools
  • Company Financing
  • Joint Ventures
  • Sunk Cost Analysis
  • Fixed and Variable Costs
  • Principles of Discounting
  • Cost of Capital
  • Portfolio Management in the Petroleum Industry

Need more information about this event from the instructor(s)? Click Here

More info...
Instructor

Gerald Henderson earned a B. S. and M. S. degree in Petroleum Engineering and has over 30 years experience as reservoir engineer, investor, producing property and facility owner, operator and CEO and founder of independent oil and gas companies. He worked extensively in development of producing property appraisal software and analysis methods, technology to apply statistical analysis of exploration and well log data and published extensively in reservoir simulation development. Gerald has also acted as energy advisor to private banking and insurance investment companies.

Training Venue

To avoid potential course disruptions caused by the attendance of unconfirmed registrants, the training venue address will ONLY be provided to registrants upon receipt of payment (via an email confirmation note).

Recommended Hotels

Calgary Regency Hotel (Click Here to View)

Sandman Hotel Calgary City Centre (Click Here to View)

Participant Evaluations
Average participant rating 3.5 out of 5 stars
50 participant evaluations
Excellent
 
13
Very Good
 
18
Good
 
14
Poor
 
2
Very Poor
 
3
All course reviews are unedited.
November 20, 2017, Production Engineering Technologist, Calgary
This course is a great introduction and overview to the fundamentals of Petroleum Industry Economics. Mr. Henderson has a vast knowledge of the subject and very much enjoyed his instruction.
November 20, 2017, Supply Managment Professional, Calgary
This course is very useful for those who are looking for general knowledge about the economics in oil & gas. The instructor has a large experience in the oil & gas industry and makes use of real cases during the course.
November 7, 2016, Evaluations Engineer, Calgary
-
November 7, 2016, Exploitation Engineer, Calgary
This course is meant for someone very new to the industry. Discussions and examples are very general.
July 18, 2016, Market Analyst, Calgary
A tremendous amount of information is provided to each participant in the form of working excel models, slides and case studies. Gerald's industry experience is impressive and his personality is friendly and engaging.
July 18, 2016, Engineer, Calgary
My only disappointment from this course is knowing that I've only scratched the surface of Mr. Henderson's knowledge.
July 26, 2016, Senior Shipping Officer, Calgary
IT'S OK, LOADED AND SHOULD BE DELIVERED AS SUCH.
April 4, 2016, Development Engineer, Calgary
Very good course! Great discussions on world events and producers and how they effect the oil/gas price. Review the economics of projects and learn to determine their value through NPV, ROR and IRR.
April 12, 2016, Trucking Coordinator, Calgary
Good.
November 30, 2015, Manager, Strategic Policy, Calgary
Overall a valuable course and a good refresher of many concepts taught in a business school. The instructor shared stories from his wealth of experience in the industry, which was helpful.
May 22, 2015, Financial Analyst, Houston
Gerry has a incredible and wide-ranging knowledge. The course provides excellent groundwork to implement the skills learned to real world scenarios.
October 27, 2014, Vice President, Development Services, Calgary
A good basic overview of the economic issues and considerations for oil and gas production.
July 25, 2014, Royalty Planning Analyst, Calgary
Covered a broad range of topics, overall a good introductory course on petroleum economics.
July 28, 2014, Engineer, Calgary
Overall, this course was great, and I walked away with a better sence of petroleum economics. This course helps you understand the elements that go into these economics, and gives a good snapshot of the petroleum world on a global scale. One thing I would have liked from this course was more basic information and to complete more hands-on calculations. Other than this, the instructor was very knowledgeable, open to increasing your understanding and providing insightful thoughts into the petroleum industry.
August 1, 2014, Production Engineer, Calgary
Highly recommended.
August 1, 2014, Sr. Royalty Coordinator, Calgary
Would definitely recommend this course, Gerry has amazing knowledge
March 6, 2014, Assistant Director, Houston
The training was good but too costly. It should have more than an Instructor to add panache and verve to it. It should be more participatory. There should have been time out for participants to unwind by visiting some places of interest. after all, all work without play, would ensure boredom.
February 10, 2014, Pipeline Operations Engineer, Calgary
The course instructor has a significant amount of experience and knowledge on the chosen topics. That being said, the course material is very poor. If you are someone who likes to look back and re-read material you will be disappointed. Good course but not worth $2700.
February 10, 2014, Director, Calgary
Having taken economics/finance courses in an academic setting, I really appreciated the instructor's perspective as someone who applies the concepts in the field every day.
February 14, 2014, Staff Procee Engineer, Calgary
The event was really good, I would take it again!
February 14, 2014, Operations Engineer, Calgary
The facilitator shared great information during the three days. The only problem was that the slides where not well put together. The presentation in general needs more structure and all the visual side of it needs to be redone by a powerpoint expert.
February 18, 2014, Manager, Calgary
Interesting course with a very seasoned instructor able to solve a wide variety of questions