Nontechnical Guide to Petroleum Geology, Exploration

More documents

Recommendations

Info

Petroleum Engineering 403 Petroleum Project Evaluation Credit 3: (3-0) Required for Juniors Catalog Description: Analysis of investments in petroleum and mineral extraction industries; depletion, petroleum taxation regulations, and projects of the type found in the industry; mineral project evaluation case studies. Prerequisites(s): PETE 301, 310, 314 Instructor: John Lee, L.F. Peterson Chair and Regents Professor, 401 C,D Richardson, (979) 845-2208, john.lee@pe.tamu.edu; Dr. Duane A. McVay, Associate Professor, 401P Richardson, (979) 862-8466, mcvay@pe.tamu.edu Textbook Required: Mian, M. A., Project Economics and Decision Analysis, Volume I: Deterministic Models and Volume II: Probabilistic Models, PennWell (Tulsa) 2002. Topics Covered: 1. Time value of money 2. Personal investments 3. Reserves classification 4. Before-tax cash flow 5. After-tax cash flow 6. International contracts 7. Yardsticks 8. Selecting investments 9. Statistics and probability 10. Expected value and decision trees 11. Risk preference 12. Simulation Class/Laboratory Schedule: 2 75-min lecture sessions per week Method of Evaluation: Homework 15% Daily Quizzes 20% Exam 1 20% Exam 2 20% Final Examination 25% Total 100% Contributions to Professional Component: Math and Science None Petroleum Engineering Provides students the tools required to analyze investments in the petroleum industry. Emphasizes the risk and uncertainty in petroleum investments and the stochastic nature of petroleum reservoir operations. Illustrates how petroleum investments are tied to the commercial system dominant in the western world and in much of the rest of the world. General Education Emphasizes the cultural, governmental, and environmental constraints on petroleum engineering projects. Discusses personal finance and investment planning. 1
Course Learning Outcomes and Relationship to Program Outcomes: Course Learning Outcome: At the end of the course, students will be able to… Be able to categorize petroleum reserves and to estimate proved reserves using volumetric, decline curve, and material balance (p/z) methods; also, be able to forecast future production rates vs. time. Be able to state, in concise summary form, the fundamental forms of ownership of petroleum resources, and laws, fiscal systems and financial interests pertinent to their exploitation in the United States and internationally. Be able to perform basic cash flow analysis for petroleum projects and determine whether proposed projects are acceptable or unacceptable and, in a given list of acceptable projects, be able determine which projects are most attractive. Be able to evaluate uncertainty in reserve estimates and economic appraisal. Be able to set personal financial goals and establish an investment plan to reach these goals. Be able to incorporate social, political, cultural, and environmental factors into decision making. Program Outcomes 11, 19 12, 22 11, 20, 22 11, 13, 20, 21 9, 14 12, 22 Related Program Outcomes: No. PETE graduates must have… 9 A recognition of the need for, and an ability to engage in life-long learning. 11 An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice. 12 An ability to recognize and take into account the constraints offered by political and social systems, including environmental considerations, in problem definition and solution. 13 An ability to recognize and take into account the difference in perspective of the scientist and the engineer and to focus on engineering problem solving techniques. 14 Specific life and career goals, and the flexibility to modify goals and plans as circumstances dictate. 19 Competency in application of reservoir engineering principles and practices for optimizing resource development and management. 20 Competency in use of project economics and resource valuation methods for design and decision making under conditions of risk and uncertainty. 21 An ability to deal with the high level of uncertainty in petroleum reservoir problems in problem definition and solution. 22 An ability to take into account the requirements of the free-market commercial system in which the petroleum industry usually functions, in problem definition and solution. Prepared by: W. John Lee, 21 January 2009 2
Page 1 and 2: Petroleum Engineering 201 Introduct
Page 3 and 4: Petroleum Engineering 225 Petroleum
Page 5 and 6: Petroleum Engineering 301 Petroleum
Page 7 and 8: Petroleum Engineering 310 Reservoir
Page 9 and 10: Petroleum Engineering 311 Reservoir
Page 11 and 12: Petroleum Engineering 314 Transport
Page 13 and 14: Petroleum Engineering 321 Formation
Page 15 and 16: Petroleum Engineering 322 Geostatis
Page 17 and 18: Related Program Outcomes: No. PETE
Page 19 and 20: Course Learning Outcomes and Relati
Page 21 and 22: Contributions to Professional Compo
Page 23 and 24: well as modern production equipment
Page 29: Contributions to Professional Compo
Page 39 and 40: • Review of reservoir inflow char
Page 41 and 42: Petroleum Engineering 435 Technical

Nontechnical Guide to Petroleum Geology, Exploration

Create successful ePaper yourself

Delete template?

Save as template?