About this Virtual Instructor Led Training (VILT)

Drilling oil and gas wells is an expensive operation. Besides the technical risks inherent in exploring for oil and gas, well drilling can be an even more risky venture without proper preparation work including a detailed, and realistic cost estimate for drilling the well and establishing systems to estimate, forecast and control well costs while drilling operations are ongoing. A comprehensively prepared Authority for Expenditure (AFE) forms a key part of the decision-making process of when, where and how to drill the well. Once the decision to drill has been taken, being able to accurately estimate the cumulative daily cost of a well and its forecast cost to complete provides management with input for making decisions to manage drilling operations and control overall costs in the operations. This intermediate-level 5 half-day Virtual Instructor Led Training (VILT) course covers the elements which comprise the well cost, how to estimate, forecast and monitor them. It also covers elements like geographical location, type of well and profile, hole depth, well targets, rig type, completion type, and contracting strategies. This VILT course will provide participants* with plenty of worked examples and hands-on exercises to ensure that the concepts are properly understood. *Participants are required to use their own laptops.