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Introduction to Exploration and Production

This seminar, which a company exclusively sponsors and schedules for its employees, is intended to provide a basic understanding of the business of an Exploration and Production (E&P) company and a foundation for developing additional oil and gas industry expertise. Subject matter specialists will cover six major sectors of the E&P business (the “Well Life Cycle”): exploration, prospect development, drilling and completion, sales and marketing, well maintenance, and well plug and abandon. Key components of each of these include:

  • Exploration - the role of geologists and geophysicists, conceptualizing opportunities and developing a focus on a particular area, the related economics, and some of the commonly utilized tools
  • Prospect Development - an overview of prospects, and the various aspects that go into prospect development, such as: geology, geophysics, cost, economics, leasing land, and prospect inventory management
  • Drilling and Completion - preparing, drilling, completing, and producing a well; charging owners
  • Sales and Marketing - what to sell, revenue distribution, and gas marketing
  • Well Maintenance - factors involved in the well meeting production goals and affiliated preventative maintenance; on-going operating cost
  • Well Plug and Abandon - activities required and carried out when a well can no longer produce hydrocarbons economically.

The seminar will include a discussion about the organization of a typical E&P company, including: job descriptions, activities / processes, terminology, transactions, and issues. It will prepare participants to knowledgeably analyze and discuss E&P issues and themes. The course materials will also serve as an excellent reference for participants to ensure they can periodically refresh their familiarity with the subject.

This course is generally directed towards participants within oil and gas companies who want to increase their fundamental knowledge of E&P, but can also be of value to individuals working in firms that are tangentially associated with the oil and gas industry where an understanding of E&P would be beneficial. It has been designed to encompass one day of presentations, illustrations, applications, and group discussions. The course can be tailored to meet the specific needs of a company’s participants in terms of time and content.


For more information on the Introduction to Exploration and Production course, please contact:

Greg Bean

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