Beginning with a definition of petroleum economics and reserves, this discussion will attempt to explain why so much emphasis is placed on running economics. Also included will be an introduction into the following topics:
1.) Definition – Economic Model
2.) Discuss Cash Flow Calculations and its components.
3.) What are “Fiscal” Systems – What Does This Mean?
4.) What in the @#% is Discounting and Why?
5.) What are the Key Economic Indicators for Decision Making?
6.) Why All of the “Sensitivities”?
7.) Why not just use an Excel Spreadsheet for economics calculations?
8.) How Does ARIES Fit In?
9.) What is a database and why use one in ARIES?
10.) What is Decline Curve Analysis and how is it used?
11.) Have you ever used the Batch Macro for Running Sensitivities? – Let’s show and example.
12.) Have you ever run Incremental Economics? – Let’s show an example.
At the end of this discussion, the floor will be open to general and advanced questions.