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Drilling and Wells
Basic Petroleum Economics - Well Site Supervisor
Part of the well site supervisor development track, this unit explains why the oil and gas business moves in cycles and how operators and contractors respond to price forces outside their control. Learners work through cash flow, pricing and economic decision tools, and practise building break-even cases for well services. It combines self-paced online study with live virtual sessions.
- Discipline
- Drilling and Wells
- Level
- Foundation
- Duration
- Flexible length
- Formats
- Classroom, Live online, In-house
Every course can be delivered in-house and tailored to your organisation.
Who should attend
Field and junior field supervisors being developed into well site supervisors, plus entry-level field staff and experienced personnel moving into supervisory roles.
What participants will be able to do
- Explain the drivers behind oil and gas price cycles
- Build simple cash flow and break-even assessments
- Apply economic decision tools to well service choices
- Account for risk and uncertainty in investment decisions
- Outline industry budgeting and accounting basics
Topics covered
- Production forecasting
- Oil and gas pricing
- Cash flow analysis
- Economic decision tools
- Risk and uncertainty
- Financing and ownership
- Petroleum accounting and budgeting