Pe984 Well Costing

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Information about Pe984 Well Costing

Published on January 17, 2016

Author: PetroEDGE

Source: slideshare.net

1. www.petroEDGEasia.net WELL COSTING 23 – 25 May 2016 | Kuala Lumpur, Malaysia Your Expert Course Director: Geoffrey Killick Geoffrey Killick is an oil and gas consultant specialising in commercial, financial and accounting matters. In a career of over 35 years he has worked in the UK, Denmark, Netherlands, Norway, Yemen, Oman, Guatemala, Colombia and Egypt.

2. Conduct this training course in-house for more effective savings! Call us at +65 6741 9927 or email to info@asiaedge.net. For more information, visit us at www.petroedgeasia.net WELL COSTING 23 – 25 May 2016 | Kuala Lumpur, Malaysia Among all the activities undertaken by oil and gas companies, well drilling could rank as one of the most expensive and riskiest decisions. The cost of drilling a well is constantly being reviewed and contested in the industry today as it moves towards exploring for hydrocarbons in more difficult locations, ever deeper water and unconventional plays. Combined with the high costs in the exploration process, fluctuating price of oil and increased demand for technology, well costs continue to climb. With such high cost considerations at play during the well planning and drilling phases, drilling engineers and accountants must generate accurate and efficient cost estimates for their operations throughout the life of a well. This 3 day targeted training course will explore in detail the various issues and challenges in developing clear and concise planning and budget reports for well development and drilling. An emphasis on the nomenclature and terminology will be clearly defined to demystify the industry and enable more effective communication between colleagues from technical and financial backgrounds when discussing issues and requests for information for well costing purposes. The course delivery will be through formal presentation, discussion and delegate participation. There will be case studies, worked examples and workshops providing delegates with a “hands on” experience that is highly interactive. Learning Objectives  Understand the key stages in the well drilling process from surface to reservoir  Learn and improve the preparation of well AFE’s (Authority for Expenditure) to provide more accurate cost control  Learn how drilling commitments are controlled and reported  Understand and produce accurate well cost reports for operators and project partners  To use ERP (Enterprise Resource Planning) solutions to develop meaningful well cost control reports  How to manage and control well drilling costs through various reporting and reconciliation methods  Examine the purpose and role in risk management when increasing operation efficiency and safety together  Examine audit rights under a typical JOA and learn how to prepare for JV audits About the Expert Course Director: GEOFFREY KILLICK Geoffrey Killick is an oil and gas consultant specialising in commercial, financial and accounting matters. In a career of over 35 years he has worked in the UK, Denmark, Netherlands, Norway, Yemen, Oman, Guatemala, Colombia and Egypt. He has significant sector-specific financial, transactional and commercial experience gained at senior management and board level. His industry experience includes listing an E&P Company on AIM, Debt and Equity Fundraising, Annual Report and Accounts, Mergers and Acquisitions, Deal Negotiation and Closure, General Management, Project Evaluation, Negotiation of Exploration and Exploitation Licences, Negotiation of Joint Operating Agreements, Financial Management, Internal and Joint Venture Accounting and Reporting, Accounting Design and Implementation. Previous roles include CFO & Company Secretary for Taghmen Energy Plc, General Manager for LUKoil’s operations in Egypt, Finance Director of Felix Mining Ltd, and Deputy General Manager & Finance Manager for Nimir Petroleum Company, Yemen. From 1989 to 1992 he worked for Kerr McGee plc as Accounting Manager, UK. Prior to 1989, he worked for Texas Eastern North Sea (UK) Inc, Charterhouse Petroleum plc and Phillips Petroleum (Europe Africa) Inc. He holds an honours degree in Economics from University of Wales, Swansea and is a Fellow of the Institute of Chartered Management Accountants.

3. Conduct this training course in-house for more effective savings! Call us at +65 6741 9927 or email to info@asiaedge.net. For more information, visit us at www.petroedgeasia.net WELL COSTING 23 – 25 May 2016 | Kuala Lumpur, Malaysia COURSE OUTLINE OVERVIEW OF WELL DRILLING & COMPLETION  Exploring for oil and gas, a process of reducing uncertainty  Well drilling process from surface to reservoir  Formation evaluation and well completion  Well design and preparation of the drilling plan  Roles of operator, contractor and company man  Technical reporting whilst drilling ROLE OF THE AFE (AUTHORISATION FOR EXPENDITURE)  Preparing a well AFE, setting up an AFE tracking system  Using project management techniques to plan, organise & control resources  Rig contract and support services for drilling  Materials and supplies using in well drilling  Typical well cost breakdown – onshore well  Typical well cost breakdown – offshore well  Designing & building a robust well cost estimating model RISK MANAGEMENT OF DRILLING OPERATIONS  Managing risk to raise the bar for operations and well management safety  Mitigation of risk is directly related to on-target performance and operational excellence  The role of well costing in Operational Excellence Management Systems (OEMS) CONTROLLING ACTUAL WELL DRILLING AND COMPLETIONS COSTS  Controlling and reporting financial commitments  Developing cost information relating to key day rate costs for equipment, services & personnel  Developing cost information relating to materials & supplies  Tracking drilling costs on a daily basis  Role of cost tracker in relation to well operations, drilling and the company man  Comparing invoiced costs to tracked costs and reporting variances  How to identify cost over-runs and prepare information for an AFE supplement WELL COSTING REPORTING AND POST DRILLING RECONCILIATIONS  Reporting daily, weekly and monthly estimated drilling costs  Using Enterprise Resource Planning (ERP) solutions to develop meaningful well cost control and variance reporting  Understanding the array of well cost reporting and how to analyse them  Methodology for detailed well cost reconciliations to required industry standard  How to perform monthly materials usage stock reconciliations  Discussion of audit trails, reporting and liaison with accounting (VOWD / accrual info)  Audit rights under JOA and preparation for JV audits  Final well cost review and materials and usage reconciliations WINDING UP

4. Conduct this training course in-house for more effective savings! Call us at +65 6741 9927 or email to info@asiaedge.net. For more information, visit us at www.petroedgeasia.net WELL COSTING 23 – 25 May 2016 | Kuala Lumpur, Malaysia EARLY BIRD RATE Register before 22nd April 2016 STANDARD RATE TEAM DISCOUNTS KUALA LUMPUR | MALAYSIA 23 – 25 May 2016 SGD 3,999 SGD 4,199 petroEDGE recognises the value of learning in teams. Group bookings at the same time from the same company receive the following: 3 or more at 5% off 5 or more at 7% off 8 of more at 10% All other promotions including early bird are exclusive of the group discount. DELEGATE DETAILS Delegate 1 Please note - Indicate if you have already registered by Phone +Fax +Email +Web - If you have not received an acknowledgement before the training course, please call us to confirm your booking. - Photocopy this form to register multiple delegates. PAYMENT METHODS By Cheque/ Bank Draft Make Payable to Asia Edge Pte. Ltd. By Direct Transfer Please quote your invoice number with the remittance advise Account Name: Asia Edge Pte. Ltd. Bank Number: 508 Account Number: 762903-001 Swift Code: OCBCSGSG All bank charges to be borne by payer. Please ensure that Asia Edge Pte Ltd receives the full invoiced amount. PAYMENT POLICY Payment is due in full at the time of registration. Full payment is mandatory for event attendance. By submitting this registration form, you have agreed to Asia Edge Pte Ltd’s payment terms CANCELLATIONS & SUBSTITUTIONS You may substitute delegates at any time. For cancellations received in writing more than seven (7) days prior to the training course, delegates will receive a 100% credit on the amount paid which can be used in another Asia Edge Pte. Ltd. training course for up to one year from the date of issuance. The credit is transferable to other persons in the same company and applicable against any future Asia Edge Pte. Ltd. public course. For cancellations received seven (7) days or less prior to an event (including day 7), no credit will be issued. In addition, a cancellation fee equivalent to 15% of the course fee will be charged. In the event that Asia Edge Pte. Ltd. postpones or cancels a course, delegate payments at the date of cancellation or postponement will be credited to a future Asia Edge Pte. Ltd. course. This credit will be available for up to one year from the date of issuance, and it is transferable to other persons in the same company and applicable against any future Asia Edge Pte. Ltd. public course. Asia Edge Pte. Ltd. does not provide refunds for cancellations and postponements or waive fees for unpaid invoices upon receipt of registration. PROGRAM CHANGE POLICY Please note that speakers and topics were confirmed at the time of publishing; however, circumstances beyond the control of the organizers may necessitate substitutions, alterations or cancellations of the speakers and/or topics. As such, ASIA EDGE PTE LTD reserves the right to alter or modify the advertised speakers and/or topics if necessary. Any substitutions or alterations will be updated on our web page as soon as possible. This brochure may not be copied, photocopied, reproduced, translated, or converted to any electronic or machine-readable form in whole or in part without prior written approval of ASIA EDGE PTE LTD ASIA EDGE PTE. LTD. Company Registration No: No. 200710561C Copyright@ 2005 ASIA EDGE PTE LTD. All rights reserved.  Mr  Ms  Mrs  Dr  Others: Name : Job Title : Department : Telephone No. : Email : Delegate 2  Mr  Ms  Mrs  Dr  Others: Name : Job Title : Department : Telephone No. : Email : Company : Address : Country : Postcode: Attention Invoice to : Telephone No. : Fax No. : 4 EASY WAYS TO REGISTER  Online: www.petroedgeasia.net  Email: info@asiaedge.net  Phone: +65 6741 9927  Fax: +65 6747 8737 WELL COSTING R E G I S T R A T I O N F O R M

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