Oil & Gas Econ ARIES

ARIES® Petroleum Economics and Reserves Software - commonly used by reservoir engineers, reserves analysts, acquisitions teams, and petroleum engineers.  Students can expect to learn how to evaluate the economic value and reserves of oil and gas properties. ARIES is considered one of the industry's standard reserves and economic evaluation tools.

Note:  This 12 hour class does not replace the ARIES® Fundamentals or the ARIES® Advanced courses, but gives a broad understanding of ARIES. 

Expect to Learn: 

Production Forecasting

• Importing and managing production data 
• Decline Curve Analysis (DCA) 
• Forecasting future oil, gas, and NGL production 
• Estimating remaining reserves and well life 
• Understanding different decline models (exponential, hyperbolic, harmonic) 

Petroleum Economics

• Building economic models for wells and properties 
• Cash flow forecasting 
• Revenue calculations 
• Operating expense (LOE) modeling 
• Capital expenditure (CAPEX) planning 
• Taxes, royalties, and ownership interests 
• Net Present Value (NPV) and rate of return calculations 

Reserves Evaluation

• Proved, probable, and possible reserves concepts 
• Economic limit calculations 
• Reserve reporting workflows 
• SEC and internal reserve evaluation practices 
• Generating reserves reports and summaries 

Property and Asset Management

• Organizing wells, leases, and fields 
• Managing large property datasets 
• Scenario and sensitivity analysis 
• Comparing development opportunities and acquisition targets 

Reporting and Decision Making

• Creating economic reports 
• Building forecasts for budgeting and planning 
• Evaluating acquisitions and divestitures 
• Presenting results to management and investors 
• Analyzing the impact of commodity price changes on asset value 

Who would benefit from attending: 

By the end of an ARIES course, students should be able to:

• Forecast production from existing wells. 
• Estimate reserves. 
• Calculate property values and economics. 
• Run sensitivity analyses for oil and gas prices. 
• Evaluate drilling and acquisition opportunities. 
• Generate professional reserves and economic reports. 
• Understand how engineers and financial teams make investment decisions in the upstream oil and gas industry. 

Prior Knowledge required: 

Students will learn more quickly if they already have:

• Basic Excel skills 
• Introductory petroleum engineering concepts 
• Basic economics or finance knowledge 
• Familiarity with oil and gas production data