Course Schedule and Catalog

Department: *Earth Science*

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Description: PETROLEUM INDUSTRY ECONOMICS MANAGEMENT ***** Topics covered include resource size determination; geologic risk analysis; establishing minimum economic thresholds; economic chance factors; the concepts of present worth, investment efficiency, rates of return. Price forecasting, cost inflation are discussed. The limitations of discrete solutions, Monte Carlo evaluations of expected outcomes are examined. Students will spend the semester working through a case evaluation in order to see first- hand how the interplay of these various assumptions, decision analysis techniques impact investment decisions.