Production of Crude Oil
About this course
This course is designed to help students (including but not limited to; oil and gas analysts, energy traders and Energy Risk Professional (GARP) candidates), understand; managerial challenges faced by oil and gas companies in producing crude oil and natural gas with an emphasis on costs & cost advantage as a strategic objective.This course, Production of Oil & Gas Products, is the 3rd reading from the Crude Oil Markets & Refined Products section of the Energy Risk Professional curriculum and covers GARP specified Learning Objectives in detail.The GARP specific Learning Objectives of this reading are as follows:Explain how specific upstream costs impact an energy company’s earnings; & why production costs may vary by location.Assess the economic performance of an oil well, including; operating profitability, break-even price, working interest and tax allocations.Classify and describe the costs and factors associated with the production of an oil field, with focus on primary, secondary & tertiary recovery methods.Assess the terms & conditions of partnership management agreement; understand how duties are shared & disputes are settled between parties involved.Describe the nature of relationships, incentives, and potential conflicts among various stakeholders along the oil and gas supply chain.Identify & assess political risks that impact crude oil production decisions.Disclaimer: This course is NOT GARP endorsed.</
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What you'll learn
- understand how upstream costs affect an energy company's earnings
- assess the economic performance of oil wells
- classify costs related to oil field production
- evaluate partnership management agreements
- identify political risks that influence crude oil production
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