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International Petroleum - Oil and Gas - Exploration and Production (E and P) Companies: Mergers, Acquisitions and Joint Ventures Course

By: HRODC Postgraduate Training Institute

United Kingdom

12 - 17 Feb, 2018  6 days

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GBP 6,000

This is a 6-day course. At the end of the course, you will receive a diploma-postgraduate in international petroleum oil and gas, E and P mergers, acquisitions and joint ventures.

This course is designed specifically for all those who work with financial information and measures of performance for oil and gas exploration and production (E and P) activities, and those seeking to enhance their career prospects within the upstream international petroleum oil and gas sector.

By the conclusion of the specified learning and development activities, delegates will be
able to:

  • Accurately account for ‘disposition’ of capitalized costs, in reference to the impairment of unproved properties
  • Address problems and issues associated with upstream oil and gas operation
  • Address the geological issues relating to the origin, exploration and production of oil and gas
  • Appropriately address disposition of capitalized costs from the surrender or abandonment of property
  • Appropriately apportion costs to non-drilling and drilling operations, respectively
  • Demonstrate a working knowledge of amortization, with particular reference to the oil and gas industry
  • Demonstrate an appreciation of financial reporting policies and practices applicable in oil and gas industry
  • Demonstrate an awareness of the salient issues associated with the development of the United States oil and gas industry, as a mark car to international oil and gas exploration developments and it mining operations
  • Demonstrate an understanding of the oil and gas industry and the activities of each subsector
  • Demonstrate mastery of the concepts and issues associated with exploration and drilling operation
  • Describe the methods of exploration generally used within the oil and gas industry
  • Discuss, with examples, the benefits and drawbacks of nonworking interest
  • Distinguish between 3D and 4D seismic
  • Distinguish between mineral rights, mineral interests and fee interests.

Course Contents, Concepts and Issues

Part 1: Upstream Oil and Gas Operations (1)

  • Introducing the Oil and Gas Industry;
  • Brief History of the U.S. Oil and Gas Industry;
  • Origin of Petroleum;
  • Anticline;
  • Exploration Methods and Procedures;
  • 3-D Seismic;
  • 4-D Seismic;
  • Acquisition of Mineral Interests in Property:
  • Mineral Rights;
  • Mineral Interests;
  • Fee Interests.

Part 2: Upstream Oil and Gas Operations (2)

  • Retained ORI Production Payment Interest (PPI);
  • Dutch Carved-Out Production Payment;
  • Carved-Out Net Profits Interest Created From Working Interest;
  • Net Profits Interest Created From Mineral Interest.
  • Oil, Gas and Mineral Lease Provisions:
    • Lease Bonuses;
    • Royalty Provision;
    • Primary Term;
    • Delay Rental Payment;
    • Shut-In Payment;
    • Right To Assign Interest;
    • Right To Free Use Of Resources For Lease Operations;
    • Option Payment;
    • Offset Clause.
  • Addressing Problems and Issues Associated with Upstream Oil and Gas Operation.

Part 3: Aspects of Drilling Operations

  • Oil and Gas Drilling Operations;
  • BOP (Blowout Preventer);
  • Bottom-Hole Pressure;
  • Bottom-Hole Pump;
  • Drill String;
  • Rat Hole;
  • Mouse Hole;
  • Drilling Platform;
  • Drilling Rig;
  • Proved Area;
  • Drill Stem Test;
  • Derek and Derek Hands;
  • Cracking;
  • Field;
  • Christmas Tree;
  • Sedimentary Rock;
  • Seismic Exploration;
  • Development Well Flowing Well;
  • Injection Well;
  • Offset Well;
  • Stratigraphic Well.

Part 4: Company Growth and Equity Value of Exploration and Production (E and P) International Petroleum – Oil and Gas - Companies

  • Internal Growth: Advantages and Problematic Issues;
  • External Growth as Integration, and its Synergistic Values;
  • Types of Integration in Petroleum - Oil and Gas - Exploration and Production Companies:
  • Horizontal Integration in Petroleum - Oil and Gas - Exploration and Production Companies:
  • Vertical Integration in Petroleum - Oil and Gas - Exploration and Production Companies;
  • Vertical Integration Backward in Petroleum - Oil and Gas - Exploration and Production Companies;
  • Vertical Integration Forward in Petroleum - Oil and Gas - Exploration and Production Companies;
  • Conglomerate Integration involving Petroleum - Oil and Gas – Companies;
  • Joint Venture Operation in Petroleum - Oil and Gas - Exploration and Production Companies;
  • Mergers in Petroleum - Oil and Gas - Exploration and Production Companies;
  • Acquisitions in Petroleum - Oil and Gas - Exploration and Production Companies.

Part 5: Authorisation for Expenditure (AFE) in Joint Venture Petroleum - Oil and Gas - Exploration and Production Companies (1)

Contextualising Authorisation for Expenditure (AFE)

  • Authorisation for Expenditure (AFE) as Documentation for Joint Operators Approval for Expenditure;
  • Cost control as an Aspect of Authorisation for Expenditure (AFE);
  • Budgeting as an Aspect of Authorisation for Expenditure (AFE);
  • Monitoring as an Aspect of Authorisation for Expenditure (AFE).

Authorisation for Expenditure (AFE) As a Process

  • Authorisation for Expenditure (AFE) Process in Joint Operation Agreement;
  • Authorisation for Expenditure (AFE) as Joint Venture Project Approval;
  • Authorisation for Expenditure (AFE) Conceptualisation;
  • Economical Evaluation in Authorisation for Expenditure (AFE);
  • Authorisation for Expenditure (AFE) Coding;
  • Components of Authorisation for Expenditure (AFE);
  • Preparation, Execution and Monitoring Process of Authorisation for Expenditure (AFE);
  • Authorisation for Expenditure (AFE) Process in Join Operation Agreement;
  • Interest Partner Approval as Authorisation for Expenditure (AFE) Execution;
  • Authorisation for Expenditure (AFE) as Joint Venture Project Approval;
  • Authorisation for Expenditure (AFE) in Production Sharing Contract (PSC);
  • Authorisation for Expenditure (AFE) for Risk Service Agreement (RSA) or Risk Service Contract (RSC);
  • Non-Standard Authorisation for Expenditure (AFE);
  • Operationally Standardized Authorisation for Expenditure (AFE);
  • Minimalist Authorisation for Expenditure (AFE);
  • Addressing Failure to Obtain Approval from all working interest owners of an Authority for Expenditure: Result;
  • Authorisation for Expenditure (AFE) as Reapproval for Budgeting Excess;
  • Consequences for Non-reapproval of Authorisation for Expenditure (AFE);
  • Authorisation for Expenditure (AFE) as a Control Mechanism for Oil and Gas Accounting;
  • Accumulation of AFE Activities in the General Ledger;
  • Executing Authorisation for Expenditure (AFE);
  • Reporting of AFE Activities at AFE Level.

Part 6: Authorisation for Expenditure (AFE) in Joint Venture Petroleum - Oil and Gas - Exploration and Production Companies (2)

Authorisation for Expenditure (AFE) for Exploration and Acquisition

  • Authorisation for Expenditure (AFE) For Lease Contract;
  • Authorisation for Expenditure (AFE) For Exploration;
  • AFE for Exploratory Wells;
  • AFE for Test Wells;
  • AFE for Estimated Intangible Drilling Cost (IDC), Equipment Cost and Completion Cost for Well Drilling.

Authorisation for Expenditure (AFE) for Drilling Contract

  • AFE in Domestic Drilling Operations;
  • AFE in International Drilling Operations;
  • AFE for Day Rate Drilling Contract;
  • AFE for Footage Drilling Contract;
  • AFE for Turnkey Drilling Contract;
  • AFE for Well Completion;
  • AFE for Recompletion.

Authorisation for Expenditure (AFE) for Development Cost

  • AFE as Completion Cost in SE;
  • AFE for Plugging and Abandonment Cost in Dry Wells;
  • AFE for Drilling as Production Costs;
  • AFE as Reapproved for Budgeting Excess;
  • AFE for Facility Construction.

AFE for Tangible Drilling and Production Costs

  • AFE For Service Wells;
  • AFE for Drilling as Production Costs.

AFE for Drilling Operational Problems

  • AFE for Workovers;
  • Rig Workover;
  • AFE for Drilling Operation;
  • Recompletion Operation;
  • AFE for Plugging and Abandonment Cost in Dry Wells;
  • AFE as Completion Cost in SE.
London, UK Feb 12 - 17 Feb, 2018
GBP 6,000.00
(Convert Currency)

+44 7736147507; +44 1902 763607; +44 2071935906; +

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