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Petroleum Economics

COURSE NO: P04-004
Petroleum Economics
Course Highlights

This online engineering PDH course provides information on how to perform economic analyses of oil and gas projects.


The exploration and production of oil and gas is a commercial enterprise. Therefore, projects in which an oil and gas production company expands its capital and effort must be evaluated for their economic worth. The first step in performing a proper economic evaluation involves creating an economic model of the project. This model can then be used to calculate the profitability of the project. Once the model is built, the input to the economic model (i.e., prices, expenses, and capital costs) can be varied to determine the sensitivity of each variable to the outcome of the project.


This 4 PDH online course is applicable to petroleum, geological, and environmental engineers who are involved in the production and development of oil and gas fields.
Learning Objectives

This PE continuing education course is intended to provide you with the following specific knowledge and skills:

  • Familiarizing with production forecasting methods used in oil and gas projects
  • Understanding the different types of ownership in oil and gas projects
  • Knowing how to calculate the projection of revenue, and fixed and variable expenses over time
  • Learning about production taxes and the capital costs needed to develop projects
  • Learning about the net present value, the payout time and rate-of-return of an oil and gas project
  • Gaining an overview of the tools needed to build spreadsheet economic models
Course Document
In this professional engineering CEU course, you need to review the course document titled, “Petroleum Economics”, which is prepared by James R. Weaver, P.E.
To view, print and study the course document, please click on the following link(s):
Course Quiz
Once you complete your course review, you need to take a multiple-choice quiz consisting of twenty (20) questions to earn 4 PDH credits. The quiz will be based on the entire document.
The minimum passing score is 70%. There is no time limit on the quiz, and you can take it multiple times until you pass at no additional cost.
Certificate of Completion

Upon successful completion of the quiz, print your Certificate of Completion instantly. (Note: if you are paying by check or money order, you will be able to print it after we receive your payment.) For your convenience, we will also email it to you. Please note that you can log in to your account at any time to access and print your Certificate of Completion.

To buy the course and take the quiz, please click on: