Course description
Production Forecasting
This skill module sets the stage for understanding the business of making decisions in the oil and gas business. Key to making economic decisions is understanding how much oil and gas are anticipated to be produced each year of a project. Using multiple methods, this skill module demonstrates and develops the understanding of how oil and gas production behaves over time, and how to forecast the levels of production over time.
Upcoming start dates
1 start date available
Suitability - Who should attend?
Managers, engineers, explorationists, field accounting supervisors and other personnel who need to develop or improve their skill and understanding of basic economic analysis and profitability of petroleum exploration and production.
Training Course Content
Participants will learn how to:
- Forecast annual oil and gas production using exponential and constant percentage decline methods.
- Forecast total production over the life of a project.
- Calculate the economic limit when analyzing a project.
- Use multiple methods to accurately forecast well and field production.
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