Content Tagged: "economics"

Keynote for session seven at the 2024 SPE HFTC. This webinar is centered around the basic principles and physics used to properly design and execut

Regenerative practice is a new concept for the industry which has practiced resource extraction for over a century. Our industry has an unprecedented

This preparatory study course will share best practices for engineering professionals getting ready to take the professional registration or the SPE certification exam. Duration: 13 hours, 5 minutes Expiration: This course expires 12 months from date of registration.

In this course, we focus on several key aspects of the energy transition, starting with the scientific basis of global warming and the impact of greenhouse gas emissions on our climates. We also summarize the UN Paris Agreement and the aspirational target of limiting global warming to a maximum of 2°C by 2050. We review the historical energy supply, demand, and greenhouse gas emissions to date, and the options available to reduce CO2 emissions. We then turn to the drivers and projections of a lower-carbon energy future through the rapid expansion of affordable renewable energy resources, hydrogen production, the reduction of methane emissions, and carbon capture and storage opportunities. Lastly, we discuss three critical requirements to achieve the net zero goals.

The learner will analyze the economic "value of information" that can be achieved during the exploration process by applying various technologies at progressively higher costs to reduce uncertainty, thereby providing better estimates during the decision process. The objectives of this course are to: measure the value of data vs. the cost to acquire the data, determine multiple data acquisition scenarios that can accomplish the goals and measure their impact on the prospects economics, and understand the cost-benefit decision process and exploration uncertainty in making both technical and business decisions.

As the oil industry matures, it must seek better and more efficient ways to exploit diminishing resources. To maximize production and improve the economics of reservoirs, oil companies must resort to a wide range of sophisticated completion strategies. By real-time data monitoring with remote-controlled sliding sleeves or variable chokes, intelligent completions help operators to better manage production, eliminate or reduce interventions and associated production downtime, well costs and risks. This new IPIMS topic discusses the overall evolution of intelligent well completions, and describes a variety of intelligent well technologies that focus on measurement and control techniques to optimize oil and gas production.

This course offers an overview of the expanding gas processing sector, which has been impacted by the rapid development of unconventional gas. It explains how rich natural gas is first separated into methane and NGL and transported to fractionation plants, where it is separated into ethane, LPGs (propane and butanes) and natural gasoline. Special attention is given to the various uses for these liquid hydrocarbons, the market prices and economics of various rich gas streams when separated and marketed into individual components and their historical international market supply-demand and pricing profiles.

In this course you will be introduced to the project management stage-gate process, with attention to Stage One, the Exploration Stage. Specific focus is placed on the host country licensing agreement and its commercial terms, the value of information as it applies to the exploration process; including the manner in which an opportunity progresses from play to prospect, the drilling of exploratory wells and the formation evaluation decisions. The estimation of resources using the SPE resources management system, and the project economic analysis using both deterministic and stochastic analysis will be covered. The learner will be able to: describe the Exploration Project Management methodology and its role in the exploration process, understand the Exploration Process from both a technical and business management perspective, apply the SPE Resources Management System to exploration opportunities, understand the role of risk and uncertainty and the costs associated with risk reduction and its impact on profitability, know how to develop business metrics for an exploration prospect using project economics under conditions of uncertainty, and identify how to review the business and technical criteria necessary to move an opportunity from play to prospect through disciplined process that leads to a commitment to move to Stage Two: Planning Field Development.

Use economic evaluation methods to select the most profitable project and/or exploitation strategy, and formulate a project budget. Upon completion of this module, the participant should be able to apply economic evaluation techniques that are necessary for analyzing proposed long-range exploitation strategies and/or projects in the areas of reservoir, drilling and production.

Learn the technical and management steps that are followed to move an exploration opportunity from play to a prospect by applying a series of progressively expensive data collection steps beginning with aerial or satellite imaging, then gravity and magnetic surveys, seismic surveys, exploration and appraisal well drilling, reservoir characterization, resources estimation and economic analysis. Upon completion of this module, the learner will be able to: learn the progressively more expansive data collection and analysis steps that are applied to an exploration opportunity from the negotiation of a host country agreement to the request for funds to move to Field Development Planning, learn how the exploration process involves making decisions to acquire data under conditions of uncertainty (value of information), learn how exploration and appraisal wells are located to delineate a prospect, learn how resources are estimated using the SPE system under conditions of uncertainty, generate prospect economics based on estimated reserves and project economic indicator, and learn how to assess geological risk.

This topic introduces the basic terminology, purpose, and economics of rigless well intervention. The health, safety, and environment (HSE) factors that must be considered when planning for and carrying out rigless well intervention activities are presented. The topic also covers the various tasks, roles, and responsibilities along with general preparation and well selection guidelines.

This course offers an overview of the expanding gas processing sector, which has been impacted by the rapid development of unconventional gas. It explains how rich natural gas is first separated into methane and NGL and transported to fractionation plants, where it is separated into ethane, LPGs (propane and butanes) and natural gasoline. Special attention is given to the various uses for these liquid hydrocarbons, the market prices and economics of various rich gas streams when separated and marketed into individual components and their historical international market supply-demand and pricing profiles.

Perform economic analysis of petroleum projects under conditions of uncertainty. Develop simple examples of project metrics using spreadsheet monte carlo simulations for stochastic analysis. Build financial models to show project cash flow streams for both capital investment and income cash flow and calculate key metrics such as profit/investment ratio, profit, payout period, net present value, internal rate of return and expected monetary value. Where there are uncertainties in the variables, use standard software to prepare sensitivity and stochastic analysis to show the potential variations in the metrics because of these uncertainties. The objectives of this course are to introduce the learner to: analyze the economics of a prospect under conditions of uncertainty, build deterministic and stochastic models, build E&P financial models to demonstrate project cash flow, calculate project economic metrics including profit/investment ratios, profit, payout period, net present value, internal rate of return and expected monetary value, and prepare sensitivity and stochastic analysis to measure potential variations in project metrics.

This course covers the LNG value chain, from gas supply to liquefaction, ship transportation and receiving/regasification terminals, and the processes/facilities required in each sector. The economics of a special LNG case study are presented to show the typical economics of a project. You will learn the price that must be charged for LNG delivered into a distant market, considering capital and operating costs and the impact of the revenues received for the hydrocarbon liquids produced and sold with the gas. The course also contains a summary of the historical LNG market development, including the major exporters and importers, and the various regional market prices of LNG.

This intermediate-level course describes, evaluates, and analyzes different statistical techniques and their real-world limitations and benefits. The course features crossover analysis, break-even analysis, cluster analysis, decision tree analysis as well as an introduction to regression.