Decline Curve Analysis - Reserves & Economics Course

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This intermediate-level course on Decline Curve Analysis focuses on the critical relationship between engineering estimates and economic decision-making in the oil and gas industry. It provides a comprehensive framework for creating quality cash flow analyses that are reliable, timely, and transferable, enabling better investment and operational decisions. The course covers key concepts including production volumes, price fluctuations, costs, and risk factors throughout the lifecycle of oil and gas assets. Students will learn how to translate future cash flows into present value to guide profitable actions and understand the role of risk in valuation and strategy. Practical guidance on how to start projects, perform decline curve analysis, and document results effectively is also emphasized.Read more...

Who Should Take This Course
• Experienced petroleum engineers and analysts
• Those seeking understanding of oil and gas economics
• Professionals in reservoir and development disciplines
• Individuals interested in investment decision frameworks

What You Will Learn
• How to estimate future production volumes
• Risk assessment across field development stages
• Methods to improve and document cash flow analysis
• Techniques for calculating present value of cash flows

Why This Course Works
• Make timely and quality investment decisions
• Avoid costly mistakes from unreliable analyses
• Align engineering work with business profitability
• Understand the impact of volumes, prices, and costs

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Course contents

Chapter 1 - Engineering and Economics

1.01 Introduction (14 min.) Sample Lesson

1.02 Strategic Context and Geologic Criteria (18 min.)

1.03 More Geologic Criteria (18 min.)

1.04 Building the House (19 min.)

1.05 Using the Tools (12 min.)

1.06 Heuristics (20 min.)

1.07 Creating the Database (26 min.)

1.08 More on Reporting Entities (8 min.)

1.09 Surveying the Landscape (9 min.)

1.10 Working the Database (14 min.)

1.11 Starting Right (4 min.)

Chapter 2 - Decline Curve Analysis

2.01 Monkey Business (5 min.)

2.02 Making Meaning Visible (28 min.)

2.03 Lies, Damned Lies and Allocation (25 min.)

2.04 Differential Diagnosis (34 min.)

2.05 Three Forces and Daily Data (18 min.)

2.06 Physics and Models (20 min.)

2.07 Drainage Area and Average Wells (31 min.)

2.08 Forecasting Procedures (27 min.)

2.09 Priority of "Priors" (27 min.)

2.10 Daily, Noisy and Evolving Data (26 min.)

2.11 Probabilistic Forecasting (15 min.)

2.12 Working Right (3 min.)

Chapter 3 - Idiosyncrasies of Shale

3.01 Idiosyncrasies of Shale (14 min.)

3.02 Geologic Components of Shale Production (18 min.)

3.03 Within and Between Geologically Similar Areas (16 min.)

3.04 Introduction to Shale Reserves (14 min.)

3.05 RTA and Simulation (19 min.)

3.06 Reading the Signs of Shale Declines (17 min.)

3.07 Decline Equations, Operational Issues (26 min.)

3.08 GORs and b-factors (18 min.)

3.09 Choosing Analogs (23 min.)

3.10 Economics Unique to Shales (14 min.)

3.11 Painting the Big Picture (3 min.)

Chapter 4 - Economics

4.01 Economics Introduction (4 min.)

4.02 Predicting Prices (17 min.)

4.03 Benchmark Prices (19 min.)

4.04 NYMEX Strip Prices (10 min.)

4.05 Current Balance of Oil Markets (22 min.)

4.06 Balance of Gas Markets, Oil Differentials (13 min.)

4.07 Gas Differentials (12 min.)

4.08 Natural Gas Liquids (13 min.)

4.09 Determining Differentials (10 min.)

4.10 Calculating Costs (13 min.)

4.11 Operating Costs and LOS (22 min.)

4.12 More on LOS (18 min.)

4.13 Quantification Methods and Program Costs (13 min.)

4.14 Taxes and Wrap-up (10 min.)

4.15 Interpreting a Cash Flow (26 min.)

4.16 Economic Yardsticks (17 min.)

4.17 Treating Risk (35 min.)

Chapter 5 - Quality Control & Transferability

5.01 Quality Control and Ethics (20 min.)

5.02 Ethics and Quality Control (31 min.)

5.03 Putting the Project Down (15 min.)

5.04 Picking it up Next Year and Ending Right (13 min.)