In this course you will learn to:
Identify and describe the various steps and associated risk elements that may be considered in taking an upstream project from concept to completion.
Explain & apply the concept of unitization in the creation of joint development zones.
Calculate and interpret relative project economics using the following metrics: NPV, IRR, WACC, and risk-adjusted return.
Classify pre-completion, post-completion, and macroeconomic risks and explain their impact on project development decisions
Describe potential risk exposures related to the use of contractors and subcontractors in petroleum projects.
Identify & calculate key elements of cash flow in an oil exploration & development project and their determinants, including capital investment, wellhead price, gross revenue, and operating expenditures, as well as simple royalty and tax payments.