Basics of Petroleum Economics


Seminars/Programs Detail

Basics of Petroleum Economics
Instructor: Mark Kaiser
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2015 brochure
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Economics is the primary link between decision making and profitable operations and it is one of the four pillars of the oil and gas industry (the other three being geology, engineering, and probability/statistics).


The purpose of this seminar is to introduce you to the economic concepts, strategies, and basic tools utilized in the oil and gas industry.  Knowing these will assist you in making better decisions and understand the tradeoffs and risks associated with making these decisions.


The scope of this program covers the entire life cycle from exploration through decommissioning.

Economics will be used as a conceptual tool to facilitate your understanding.  The instructor’s approach is applied, practical and broad, providing you with the background necessary to tackle and understand a variety of problems. 

  • Entry- and Mid-Level Managers
  •  Landmen
  •  Accountants
  • Bankers
  • Project Managers
  • Production Engineers
  • Financial Analysts
  •  Geologists
  • Reservoir Engineers
  • Regulators
  • Policy Analysts
  • Petroleum industry personnel who would like to develop or increase their knowledge in basic economic analysis, cost estimation, and profitability assessment

During this two-day seminar, you will…

  • Learn 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 conventional and unconventional assets
  • Recognize and use basic units, conversions, and classification systems common in the industry.



  • 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 material



Course Summary


  • Economic Criteria
  • Development Economics
  • Property Valuation
  • Production Economics
  • Ty[e Curve Economics
  • Reserves
  • Oil & Gas Prices
  • Cost Estimation
  • Acquisitions nad Divestitures





March 24-25, 2015 - Oklahoma City, OK - Skirvin Hilton Hotel 




Length: 2 days, 8:30 am -4:30 pm each day
Accreditation: Professional Development Hours (PDHs) = 12.5 Continuing Education Units (CEUs) = 1.25 This course has been applied for American Association of Professional Landmen RLP and CPL Hours, Continuing Legal Education Hours and CPD Hours in many states.
Organizer University of Tulsa


Wed, Apr. 22 - Thu, Apr. 23, 2015
8:30 a.m. - 4:30 p.m.
(GMT-0600) US/Central
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Doubletree at Greenway Plaza
6 Greenway Plaza East
Houston, TX