Production of Crude Oil

Energy Risk Professional (GARP): Exam Review Series

Ratings 4.26 / 5.00

What You Will Learn!

How specific upstream costs impact an energy company’s earnings; & why production costs may vary by location.
Assess the economic performance of an oil well, including; operating profitability, break-even price, working interest and tax allocations.
Classify and describe the costs and factors associated with the production of an oil field, with focus on primary, secondary & tertiary recovery methods.
Assess the terms & conditions of partnership management agreement; understand how duties are shared & disputes are settled between parties involved.
Describe the nature of relationships, incentives, and potential conflicts among various stakeholders along the oil and gas supply chain.
Identify & assess political risks that impact crude oil production decisions.

Description

This course is designed to help students (including but not limited to; oil and gas analysts, energy traders and Energy Risk Professional (GARP) candidates), understand; managerial challenges faced by oil and gas companies in producing crude oil and natural gas with an emphasis on costs & cost advantage as a strategic objective.

This course, Production of Oil & Gas Products, is the 3rd reading from the Crude Oil Markets & Refined Products section of the Energy Risk Professional curriculum and covers GARP specified Learning Objectives in detail.

The GARP specific Learning Objectives of this reading are as follows:

Explain how specific upstream costs impact an energy company’s earnings; & why production costs may vary by location.
Assess the economic performance of an oil well, including; operating profitability, break-even price, working interest and tax allocations.
Classify and describe the costs and factors associated with the production of an oil field, with focus on primary, secondary & tertiary recovery methods.
Assess the terms & conditions of partnership management agreement; understand how duties are shared & disputes are settled between parties involved.
Describe the nature of relationships, incentives, and potential conflicts among various stakeholders along the oil and gas supply chain.
Identify & assess political risks that impact crude oil production decisions.

Disclaimer: This course is NOT GARP endorsed.

Who Should Attend!

ANYONE INTERESTED IN UNDERSTANDING THE BASICS OF THE OIL AND GAS INDUSTRY.
ENERGY RISK PROFESSIONAL (GARP) CANDIDATES: who plan to sit for GARP's ERP Part 1 exam can learn the Learning Objectives for the first two readings of the ERP part 1 curriculum.
ENERGY MARKET PROFESSIONALS: The Energy Risk Professional (GARP) helps professionals working in the energy markets to broaden their knowledge of the complex energy value chain and its interconnection with financial markets. It will help sharpen your ability to identify, analyze, and manage risk, and will help you keep pace with emerging industry trends, particularly in areas where they lack direct professional experience. If you are at the start of your career, earning your ERP is an excellent way to demonstrate that you possess the knowledge and skills necessary to take on additional challenges and responsibilities in the energy space, and to differentiate yourself from your peers.
FINANCIAL ANALYSTS: who wish to grasp how exploration & development of crude oil takes place & be aware of financial risks involved in evaluating/valuing such firms.
TEACHERS: who wish to level up their industry knowledge and be able to understand & use industry terminology and give industry examples.
CAREER CHANGERS: If you are considering a career in energy, becoming an ERP can accelerate your transition. Professionals from non-finance, non-risk, or non-energy roles become ERPs in order to develop specialized, practical knowledge that can be applied in the global energy market. Undertaking the rigorous course of study to become an ERP signals your commitment to understanding energy markets to potential employers.
STUDENTS: If you are a student interested in a career in the energy industry, you may elect to sit for the ERP Exam during or after completing your studies. The ERP Program can complement your prior coursework or help you develop a foundation of specialized knowledge that goes beyond your university curriculum. Engaging with the ERP Program underscores your dedication to learning about the energy marketplace to prospective hiring managers.

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