Targeted AudienceThe E&P Business and Project Economics
- The Business Environment
- Business objectives
- Stakeholders
- Corporate governance
- The E&P Business
- Risk and reward
- Commercial arrangements
- The field life cycle
- Project Economics
- Project cash flows
- The time value of money
- Discounting and the cost of capital
- Project economic models
- Decision criteria
Accounting, Exploration and Development Costs
- The Accounting System
- Capturing and recording data
- Cash and accruals
- The balance sheet
- The income statement and profit measurement
- Accounting principles and standards
- Capital and Operating Expenditure
- Matching costs and benefits
- Assets and expenses
- Exploration and Appraisal Costs
- Full cost and successful efforts
- Intangible assets
- Development costs
- Commitments
- Tangible assets
Reserves, Production and Cost of Sales
- Reserves of Oil & Gas
- Classification of reserves
- Reserve quantity disclosures
- Production Costs
- Lifting costs
- Maintenance costs
- Royalties
- Depreciation, Depletion and Amortisation (DD&A)
- Unit of Production (UOP) method
- Changes in costs and reserves
- Ceiling or Impairment Tests
- Test requirement and process
- Accounting for test results
- Decommissioning, Removal and Restoration
- Obligations to remove and restore
- Reporting of decommissioning liabilities and costs
Risk and Cost Sharing Arrangements
- Joint Ventures
- Cash calls
- Billing statements
- Entitlements and liftings
- Transfers of interests or risks
- Farm outs
- Carried interests
- Production sharing contracts
- Cash flow implications
- Reserve implications
- Long-term gas contracts
- Pricing mechanisms
- Take or pay
Financial Analysis, Budgets and Management Reports
Analysis of Financial statements
- Profitability, liquidity and solvency
- Investment measures
- Budgets
- Authorisation of expenditure
- The budget process
- Management reports
- Responsibility reporting
- Analaysis of variances