His professional experience includes 20 years in leading and conducting projects of various sizes and scopes involving the application of decision and risk analysis methodologies in the energy and environmental sectors, and 10 years as a practicing petroleum geophysicist. Importance of petroleum economics in decision making macroeconomic condition and project evaluation upstream economic evaluation time value of money cash flow analysis and present value key. It is a scalable and complete reserves estimation and evaluation system with a unique autoforecasting algorithm and a powerful economics engine. An experiential case study in it project management.
Twelve software vendors, a veritable whos who of the commercial. Do you find that you need to spend valuable time and money building complex spreadsheets to. Twelve software vendors, a veritable whos who of the commercial programs available today, each ran 30 different test cases designed to test various aspects of the economic calculation. The certificate in petroleum economics is the ideal course for both individuals and corporate groups to develop this crucial knowledge. The objective of this course is to provide participants with the necessary skills to apply the methods of risk analysis. Risk analysis, prospect evaluation and exploration economics. Find and compare the top oil and gas software on capterra. Customer logins obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. With aucerna, companies can perform reliable and repeatable analysis based on your proprietary models or aucerna regimes, aucernas world class, global fiscal regime library. Ogre systems very capable and flexible petroleum economic evaluation software. Each function from addin can be selected from insert function dialog as well as from ribbon group. May 08, 2017 open course schedule events software evaluation.
Tagged oil and gas reserves evaluation, petroleum economics courses, petroleum economics training comments. Upstream petroleum fiscal and valuation modeling in excel. Aucerna petroleum economics is an enterprise level software and data solution for petroleum economic evaluation and fiscal modeling. Tagged oil and gas reserves evaluation, petroleum economics courses. With aucerna, companies can perform reliable and repeatable analysis. All functions are organized by categories for easy navigation and have a informative description. Schlumberger merak evaluation and economics software. The petroleum engineering economics evaluation software imperative. Petroleum economics software and services schlumberger software. International petroleum economics evaluation software do you find that you need to spend valuable time and money building complex spreadsheets to evaluate economics of new oil and gas exploration and. Petroleum economics planning, execution, and reserves. Oil and gas production software petroleum industry. How the internet of things is reimagining the oil patch.
Discussion progresses from an introduction to the industry, through principles and. Most phdwin users can complete the same evaluation in under one week. This increases the overall efficiency of the evaluation process, allowing. Nash, phdaapg director of education and professional development, tulsa, ok bryan. Pdf petroleum economics, risk and opportunity analysis. The ability to create and run faster evaluations with phdwin gives you more valuable decisionmaking time than any other product. Drillnomics released its oil and gas economic evaluation and decline curve software to the public this quarter, and industry response has been overwhelmingly positive. This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. To this effect, we routinely construct a fiscal model to apply to the project being studied, and apply risk techniques, selected as appropriate from a portfolio of tools. Rely on powerful autoforecasting and massediting tools for rapid economic evaluation. Petroleum office is an addin that integrates a ribbon tab into the excel window, giving you easy access to the included functions and tools.
In this discussion, the terms property and project are used interchangeably as the objects of evaluation. Basic petroleum economics mai 2004 ppm 2nd workshop of the china case study 2 investment decisions investment decisions are among the most important decisions that a companygovernment. Economic evaluation software built from the ground up as a single solution to fully manage prms as well as budgeting, capital management and multiple. International petroleum economics evaluation software do you find that you need to spend valuable time and money building complex spreadsheets to evaluate economics of new oil and gas exploration and production opportunities or that the economics software you now use is not sufficiently flexible to work accurately for every new set of terms you. The case covers key issues in information technology project management. Free, lowcost, and open access data and software for petroleum exploration and production susan s. Derived from spee 2018 petroleum evaluation software symposium. Ogre systems offers flexible and easy to use petroleum economics and reserves software solutions. Rely on powerful autoforecasting and massediting tools for rapid economic evaluation and updating based on actuals. Building understanding through basin to reservoirscale modeling of petroleum systems.
Tim nieman has 30 years of experience as a risk and decision analyst, economist and petroleum scientist. Economic evaluation of petroleum projects basic aspects. Other personnel, including nontechnical, that need to improve their understanding of risk analysis, prospect evaluation and petroleum economics. We have also developed one of the best economic evaluation products available today.
Economic evaluation software built from the ground up as a single solution to fully manage prms as well as budgeting, capital management and multiple alternative scenarios and. Pages in category petroleum economics the following 62 pages are in this category, out of 62 total. The objective of this course is to provide participants with the necessary skills to apply the methods of risk analysis, prospect evaluation and exploration economics. Reliable forecasting, economic optimization, insightful visual analytics and more. Our economics and planning suite plays a significant role in completing the technical insights of geoscientists and engineers with the business analysis and. The firm conducts indepth economic evaluations using the latest proprietary and commercial software programs. It is a scalable and complete reserves estimation and evaluation system with a unique auto. Almost every decision is made on the basis of an economic evaluation.
V3 learn more introducing written by engineers for engineers phdwin coupled with phdrms offers the most complete solution for evaluating. This course is designed for learning the basics of petroleum economics and project selection. Kent saugier is a handson scientific, technology and business professional with twentyfive years experience in upstream oil and gas, offshore technology, economics, economic. Aries petroleum economics software landmark solutions. Kent saugier is a handson scientific, technology and business professional with twentyfive years experience in upstream oil and gas, offshore technology, economics, economic modeling, international petroleum contracts, project management, software applications and technology including design, licensing and commercialization.
V3 learn more introducing written by engineers for engineers phdwin coupled with phdrms offers the most complete solution for evaluating, managing, and reporting reserves and performance data. New mexico gotech free decline curve analysis software and data drawing module for excel. The aries petroleum economics and reserves software provides. The next generation of phdwin software is now in beta. It provides a secure and flexible economics solution that ensures compliance with prms as well as the most rigorous governing b. Our company is dedicated to providing engineering and services to the petroleum industry. Economic evaluation is an essential step for assessing and studying and selecting new petroleum projects which involve different. Day 1 principles of petroleum economic analysis overview.
Investment decisions should never be hindered by slow economic evaluations or delayed information aggregation. Expanded basic petroleum economics training course. Mosaics singlesystem solution delivers data insight with complete reserves management, petroleum economics, budgeting, capital planning, and decline analysis. Free, lowcost, and open access data and software for. For those conditions, many methods and techniques have been developed to support the process of economic evaluation of petroleum projects. Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or energy industries. Merak peep petroleum economic evaluation and decline analysis software is the industry standard for economic modeling of upstream oil and gas projects.
Aug 17, 2015 drillnomics released its oil and gas economic evaluation and decline curve software to the public this quarter, and industry response has been overwhelmingly positive. Quickly browse through hundreds of options and narrow down your top choices with our free, interactive tool. Nash, phdaapg director of education and professional development, tulsa, ok bryan flynngeophysicisthgs continuing education committee, houston thom tucker, cpghgs continuing education committee, houston imagine a geologist, an engineer, and a landman sitting at their local. With the company growing at a rate of over 50% per month and a free trial to subscriber conversion rate of over 60%, the product is quickly capturing market share. International upstream petroleum economics modelling expertise in microsoft excel modelling and specialisation in custom built models either at an asset level or a corporate level including finance knowledge and experience of a number of industry software models, notably the schlumberger merak peep software. Filter by popular features, pricing options, number of users and more. Basic principles for economic analysis ingredients for an economic evaluation objectives and recurring themes. Economic evaluations are also performed to determine reserves and the standardized measure of value for reporting purposes for publicly held companies. Previously, he worked as an independent petroleum economist engaging in all aspects of petroleum economics including commercial evaluations. Planningspace software enables companies to execute a living business plan, providing instant data from all departments, spontaneous collaboration and feedback loops that minimize risk and exposure. Dan olds, senior vice president international, ryder scott petroleum consultants. New oil and gas economic and decline curve software tool. Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or. Importance of petroleum economics in decision making macroeconomic condition and project evaluation upstream economic evaluation time value of money cash flow analysis and present value key economic indicators for project evaluation probability and statistics in decision making uncertainty analysis tornado diagram, sensitivity analysis decision tree and monte carlo analysis.
International petroleum economics evaluation software. The last section of the chapter presents a petroleum economic evaluation example which presents a complete risk analysis leading to net present values npvs of the example project. An experiential case study in it project management planning. Optimize every element of your prospecting operations worldwide using our advanced oil and gas exploration softwarea suite of comprehensive digital solutions for each stage of a.
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Past president, society of petroleum evaluation engineers this book gives a comprehensive and indepth discussion. Petroleum economics, risk and opportunity analysis. Petroleum engineering calculations in microsoft excel. The society of petroleum evaluation engineers spee undertook a project to try to isolate the causes of differences in reported results. That became possible thanks to advanced programs, additional. It is in daily use by over 4,000 economists and engineers in approximately 350 oil and gas companies across the world. It provides a stepbystep guide to understanding fiscal models similar to what many residential courses offer. Aries, the most trusted asset economics software in the united states, is a flexible, enterprisestrength global economic and reserves software and can enable companies to efficiently evaluate and manage any number of assets, projects, and rollups in a collaborative database environment. These include competent persons reports cprs for stock market listings, reserve audits and data room evaluations for asset acquisitions, and fiscal design and market studies for government.
Petroleum economics distance learning training course. These include competent persons reports cprs for stock market listings, reserve audits and data room evaluations for asset acquisitions, and fiscal design and market studies for government organisations. Economic evaluations are also performed to determine reserves and the. Download a free trial of phdwin phdwin economics and.
The aries petroleum economics and reserves software provides comprehensive enterprisewide property and data management, production and reserve forecasting using decline curves or other methods, and proven economic evaluations for operations, engineering, and business teams. Val nav is a fully integrated decline curve analysis, petroleum economics, and reserves management software. Phdwin economics and reserves software by trc consultants. Economics drives the entire oilgas producing industry.
Petroleum economics aucerna petroleum economics is an enterprise level software and data solution for petroleum economic evaluation and fiscal modeling. Mosaics singlesystem solution delivers data insight with complete reserves. The applicability of various probability distributions to the petroleum project development cost analysis is discussed. This course is an excellent introduction to the fundamentals of petroleum economics. New oil and gas economic and decline curve software tool is. Outperform legacy systems with mosaic the next generation software for corporate reserves, petroleum economics, budgeting, capital planning, and decline analysis. This course will introduce a variety of fundamental petroleum economic principles including revenue, expenditures, fiscal systems, risk analysis, and investment. Petroleum economics rely on the fastest, most complete. Optimize every element of your prospecting operations worldwide using our advanced oil and gas exploration softwarea suite of comprehensive digital solutions for each stage of a petroleum systems approach to discovering hydrocarbons. A comparative analysis of 12 economic software programs. Each function from addin can be selected from insert function dialog.