Reliable Oilfield Analysis: Valuing Oil and Gas Assets

Learn how to value exploration assets and maximise the utilisation of your Oil and Gas fields

This three-day interactive programme will provide you with answers to fundamental issues of advanced determination methodologies for reserves estimation and evaluation, such as:

  • Life Cycle Analysis of Oil and Gas fields
  • Selling and/or buying assets
  • Advanced and applied reserves estimation methodologies
  • Top-down Corporate Analysis
  • Bottom-Up Net Asset
  • Production forecasting and capital expenditures
  • Due diligence checklists
  • Statistics and probability concepts
  • Expected value and decision trees
     

What is the programme about?

Reserve estimates always involve some degree of uncertainty. The uncertainty depends chiefly on the amount of reliable geologic and engineering data available at the time of the estimate and the interpretation of these data. With many decision being based on these estimations, a reliable analysis is necessary to ensure that the right actions are taken. Therefore, in the hands-on workshops delegates will examine all aspects of determining reserves and cash flow analysis.. Based on real life data, you will participate in interactive simulations equipping you with detailed and applied knowledge to value new oil and gas developments. If you want to maximise the utilisation of your assets you cannot miss this course!

Interactive Workshops
You will experience dynamic, interesting and proactive sessions, case studies and discussions that will include innovative concepts and practices, useful practical examples of projects and cases from across each region. Clarion Training is focused on delivering practical and industry relevant training that will enhance your business and knowledge skills at a very real and tangible level.

 

This course is designed as a hands-on reserves estimation course, it caters to all levels of previous knowledge. This course is suited for all levels of experience, such as:

  • Commercial Analyst
  • Business Development Advisor
  • Project Manager
  • Business Development Manager
  • Planning Engineer
  • Asset Evaluation Manager
  • Exploration Evaluation Manager
  • Head of Operations
  • Geologist
  • Petroleum Engineer
  • Senior Reservoir Engineer
  • Economic Evaluation Manager
     

Day 1

The Life Cycle of Oil and Gas Fields

  • Exploration
  • Appraisal
  • Development
  • Production
  • Supplementary Recovery
  • Abandonment


Motives – What are the reasons to buy and sell petroleum assets?

  • The Buyer
  • The Seller


Reserves and Resources

  • Definitions
  • SPE PRMS
  • COGEH
  • Others
  • Different Stock Exchange Reporting Regulations
  • SEC, LSE, TSX, ASX, HKEX, SGX
  • Reserves estimation methodology
  • Volumetrics
  • Decline Curve Analysis
  • Material Balance
  • Analogy


Valuation Methods

  • Top-down Corporate Analysis
  • Financial Analysis
  • Non-Financial Metrics
  • Bottom-Up Net Asset Valuation (NAV)

INTERACTIVE WORKSHOP
Delegates will review a value analysis of a 2015 public E&P company to identify risks and opportunities.


Day 2

The Principles of Asset Analysis

  • Time Value of Money Principle
  • Discounted Cash Flow Analysis (DCF) – the cornerstone of valuation
  • Inputs into the cash flow analysis
  • Production Forecast
  • Product Pricing
  • Capital Expenditures (Capex)
  • Operating Costs (Opex)
  • What discount factor to use

INTERACTIVE WORKSHOP
An oil producer – a new development. The class is broken up into groups to value a new offshore oil and gas development.

How to value exploration assets

  • A due diligence checklist

INTERACTIVE WORKSHOP
A "real world" data review exercise: Utilising data from a data room, with participants going through a complete work program.


Day 3

The Effects of Different Tax and Fiscal Regimes

  • Concessions
  • PSC
  • Risk Service
  • ROR Contracts
  • Example: Analysis under PSC terms


Project Financing

  • The different types of financing – Equity vs. Debt
  • The benefits of debt financing


Uncertainty and Risk

  • Statistics and probability concepts – what does P50 really mean?
  • Using historical Data
  • Forecasting
  • Using Monte Carlo Simulation in Asset Valuation


Expected Value and Decision Trees

  • Designing a strategy/decision tree
  • The EMV approach to analysis


Qualitative Issues

  • Third Party Opinions and Audits – are they necessary?
  • Oil vs. Gas, the "boe" dilemma
  • Political risk – can it be calculated?
  • How to decipher oil company media releases
Course Categories

Testimonials for our Courses

“Overall well done and interesting! The information on logistics/infrastructure and finance was very useful.”
 

Delivered by

Peter Cockcroft, originally a Production/Development Geologist and a leader of multi-disciplinary

Dates & Locations



This course is only available as a custom course tailored for your business, contact us to discuss your requirements.