Shahab Mohaghegh - Courses PNGE 241

Course Definition:
Reserve estimation, decline analysis, petroleum property evaluation including interest calculations, cost estimation and tax evaluation. Overview investment decision analysis and computer application in property evaluation..

Policy:

Participation & Professionalism 5%

Homeworks 10%

Quizzes 5%

Projects 30%

Exams 50%

Homework and projects are due at the time specified.
Late homework or projects: 5% penalty for every class meeting.
Attendance: Required.

Text Book:
Oil Property Evaluation
By: Thompson and Wright.

Books extensively used during the semester:
"Petroleum Evaluations and Economic Decisions," Mc Cray.
"Economic Evaluation and Investment Decision Methods," Stermole and Stermole.

MY GOLDEN RULES:

This is the absolute minimum that I expect from each of my students. This is the absolute minimum of professionalism without which we cannot get along well. If you think you might not be able to live by these two simple rules, please come and see me ASAP. - Thank you.

DO NOT come late to the class.
If you do, be prepared to PAY. (no,... not monetarily)

DO NOT miss class.
If you do, you will lose 5 points from your FINAL GRADE for each un-excused absence.

University Social Justice Statement.

University Disability Policies

Syllabus:


Chapter ONE:	INTRODUCTION Investment Decision making Introduction to Probability Data Handling Frequency Distribution Introduction to Statistical Measures Range, Median, Mean, Standard Deviation and Variance Discrete Probability Distribution Continuous Probability Distribution	(Week - 1)

Chapter TWO:	BASIC CONCEPTS OF OIL PROPERTY EVALUATION Profit, Revenue, and Periodicity Financial Models Cash Basis Modified Cash Basis Accrual Basis Time Value of Money Cash Flow Diagram Simple Interest Compounded interest Nominal and effective interest rates	(Weeks - 2,3,4)

Chapter THREE:	INVESTMENT DECISION ANALYSIS Single Project Mutually Exclusive Projects Yardsticks Net Present Value Present Value Profit Discount Cash Flow Rate of Return	(Weeks -5,6)

Chapter FOUR:	RESERVE ESTIMATION Reserve Classification Methods of Calculating Reserve Analogy Volumetric Source of Data Isolated Wells Developed Field Material Balance History Matching Future Predictions Decline Curves Exponential Decline Decline Rates Cumulative Production Hyperbolic Decline Decline Rates Cumulative Production Reservoir Simulation Original Oil In Place Permeability & Skin Factor Shape Factor Recovery Factor	(Weeks -7,8)

Chapter FIVE:	DECLINE CURVE ANALYSIS Production Decline Curves Exponential Decline Nominal and Effective Decline Rates Cumulative Production Hyperbolic Decline Nominal and Effective Decline Rates Cumulative Production Harmonic Decline Theoretical Foundation of Decline Curves Assumptions Derivations Original Oil In Place Permeability and Skin Factor Shape Factor Recovery Factor Decline Rate Decline Curve Analysis	(Weeks -9,10,11)

Chapter SIX:	TYPE CURVES Fetkovich Type Curves	(Weeks -12,13)

Chapter 7:	MONTE CARLO SIMULATION Introduction to Monte Carlo Simulation technique	(Weeks -14,15)
LECTURES Chapter 1 Watch our Youtube video on how to implement Monte Carlo Simulation in Excel for the homework given in class Watch it Here

Course TA:
Ms. Vida Gholami

Problem Sets:

Decline Curve Analysis Using MS. Excel Examples:

Type Curve Matching Using MS. Excel Examples:

Click here to download the SPE paper template. You should copy this file into the "Template" directory in the Microsoft office directory in the "Program Files" directory. Then open the Microsoft Word and then click on new, and then use the template.

Projects: