Drilling Economics and Cost Management

📅 Day 1: Introduction to Drilling Economics

• 09:00–09:45 – Overview of drilling economics: key concepts and principles

• 09:45–10:30 – The role of economics in drilling project management

• 10:30–10:45 – ☕ Coffee Break

• 10:45–11:30 – The lifecycle of a drilling project: planning, execution, and evaluation

• 11:30–12:15 – Capital vs. operational expenditures in drilling projects

• 12:15–13:15 – 🍽️ Lunch Break

• 13:15–14:00 – Cost estimation methods: unit costs, cost breakdowns, and pricing models

• 14:00–14:45 – Tools for project budgeting and financial planning

• 14:45–15:00 – Recap and Q&A

📅 Day 2: Drilling Cost Components and Estimation

• 09:00–09:45 – Direct and indirect drilling costs: categories and calculations

• 09:45–10:30 – Equipment costs: rigs, tools, and machinery

• 10:30–10:45 – ☕ Coffee Break

• 10:45–11:30 – Personnel costs: labor, safety, and training

• 11:30–12:15 – Operational costs: fuel, maintenance, and consumables

• 12:15–13:15 – 🍽️ Lunch Break

• 13:15–14:00 – Cost estimation for specialized drilling operations (deepwater, horizontal)

• 14:00–14:45 – Benchmarking drilling costs against industry standards

• 14:45–15:00 – Recap and Q&A

📅 Day 3: Financial Decision-Making in Drilling Projects

• 09:00–09:45 – Financial analysis techniques: NPV, IRR, and ROI

• 09:45–10:30 – Risk assessment and uncertainty in drilling economics

• 10:30–10:45 – ☕ Coffee Break

• 10:45–11:30 – Decision-making in well planning: cost vs. operational efficiency

• 11:30–12:15 – The impact of technology on drilling costs: automation, MPD, and advanced rigs

• 12:15–13:15 – 🍽️ Lunch Break

• 13:15–14:00 – Break-even analysis and cost sensitivity in drilling projects

• 14:00–14:45 – Evaluating drilling alternatives: comparing conventional vs. advanced drilling methods

• 14:45–15:00 – Recap and Q&A

📅 Day 4: Cost Control and Optimization Techniques

• 09:00–09:45 – Cost control strategies in drilling operations

• 09:45–10:30 – Managing cost overruns and identifying inefficiencies

• 10:30–10:45 – ☕ Coffee Break

• 10:45–11:30 – Techniques for optimizing drilling performance within budget constraints

• 11:30–12:15 – Supplier contracts and negotiating drilling services for cost reduction

• 12:15–13:15 – 🍽️ Lunch Break

• 13:15–14:00 – Cost tracking and financial reporting during drilling operations

• 14:00–14:45 – Hands-on: creating a cost optimization plan for a drilling project

• 14:45–15:00 – Recap and Q&A

📅 Day 5: Evaluating Drilling Projects and Financial Management

• 09:00–09:45 – Evaluating project performance: cost vs. value delivered

• 09:45–10:30 – Long-term cost considerations: decommissioning, environmental impact

• 10:30–10:45 – ☕ Coffee Break

• 10:45–11:30 – Managing cash flow and financing drilling operations

• 11:30–12:15 – Economic considerations for field development projects and production life cycle

• 12:15–13:15 – 🍽️ Lunch Break

• 13:15–14:00 – Group activity: evaluating the economic feasibility of a complex drilling project

• 14:00–14:45 – Final discussion: financial decision-making and risk management in drilling

• 14:45–15:00 – Recap, Q&A, and course wrap-up