This seminar is intended for senior landmen and individuals involved in conducting project economic evaluations. Emphasis is on the use of economics to assist in the structuring and evaluation of land deals. Landmen and other oil and gas valuation specialists will find the principles and illustrative examples that are discussed throughout the course equally valid in the context of their daily work. Landmen may also wish to encourage their project evaluation team members to register for this seminar.
The instructor will cover the basics of measuring project value from an economic perspective. The advantages and disadvantages of alternative methods of value measurement will be discussed, with an emphasis on discounted cash flow analysis and the related profitability criteria. Techniques for incorporating risk analysis into evaluations will be presented. Practical examples and applications of the material covered will be provided, and participants will have several opportunities to derive solutions to problems. Participants are requested to bring a simple arithmetic calculator to the seminar.
Mr. Lee has over 25 years of experience assessing the economics and financing of projects in the exploration, processing and transportation sectors of the hydrocarbon industry and is currently a consultant. From 2004 to 2006 he was a Commercial Advisor with Burlington Resources. Between 1997 and 2004, he was the Manager, Planning with Alliance Pipeline Ltd., a $5 billion natural gas pipeline operating between the Western Canadian Basin and Chicago. At Alliance he modelled the pipeline's tolls for Canada and the United States, participated as an expert witness in hearings before the National Energy Board, and worked with a team of finance specialists to successfully negotiate $3.5 billion of debt financing. Prior to joining Alliance Mr. Lee spent 11 years with Talisman Energy in the Operations, Exploration and Treasury departments.