PGE 543: Advanced Petroleum Economics

COURSE SYLLABUS: Evaluate Projects Using Economics Decision Yardsticks Including: Profit to Investment Ratio (P/I), Discounted and Undiscounted Payout Time (POT), Net Present Value (NPV), and Rate of Return (ROR).  Classification of Energy Sources.  Define Oil Resources and Reserves.  Unconventional Oil and Gas Resources.  Recall and Describe the World’s Giant Oil and Gas Fields.  Uncertainty and Risk Analysis in Petroleum Exploration and Production.  Discuss Oil Pricing Criteria and Identify Factors Affecting Oil Prices.  The Role of Strategic Oil Reserves.  Understand Oil and Gas Production Business Operations.  Discuss Hubbert Model for Oil Peak Forecasting.