Rike Service, Inc.   

 Practical Petroleum Training

 
 

 

 

 

  

Economics & Accounting

(3 days)

For: Exploration and production personnel charged with economic evaluations

Never be confused again by the bean counters! Leave this 3-day course with a full understanding of ways to measure profitability. You will fully understand the time value of money, as well as the different effects of capitalization vs. expensing costs. You see the results in conclusive economic viability.

Major Topics Covered:

  • The Yardsticks of Economics (Using Simplified Example)

  • Differences in Character of Work

  • Short-Cut Economics with Tables/Graphs

  • Incorporating Tax Law Considerations

  • Determining Internal Time Value of Money (Discount Factor)

  • How Exploration Projects & Economic Assessment/Outcomes Affect Accounting Statements

  • The Role of Inflation and Oil/Gas Price Expectation

  • Evaluating Risk

  • What One Can Do About “Unwanted” Risks

  • Impact of Risks