Oil and gas companies are valued on what is under the ground, but investors and lenders pay only for what can be produced and sold at an acceptable return. As price volatility, rising decommissioning obligations and the energy transition reshape the sector, a careless reserves valuation can misstate a balance sheet or sink a transaction. Teams in national oil companies, independents, banks and regulators therefore need a shared and transparent approach to valuation.

Participants in the Financial Valuation of Oil and Gas Reserves Training Course begin with resource classification and how volumes are estimated, then move through production forecasting, fiscal regimes, capital and operating cost modelling and discounted cash flow. Later sessions address risking of exploration and development assets, sensitivity testing, comparable-transaction methods and the way valuations feed into impairment tests, borrowing bases and negotiations over acquisitions and divestments.

Learning is built on a spreadsheet model that grows each day. Participants work from realistic field data, challenge each other's assumptions in peer review and finish with a short valuation memorandum suitable for an investment committee.

By the end of the course, participants will be able to:

• Classify reserves and resources using the SPE-PRMS framework and explain what each category means for value.
• Construct production profiles and decline forecasts that support a cash flow model.
• Model royalty, tax and production sharing terms within a project cash flow.
• Calculate NPV, IRR, payback and break-even price and interpret them for decision makers.
• Apply risk weighting to contingent and prospective resources.
• Run sensitivity and scenario analysis on price, cost, volume and timing assumptions.
• Prepare a valuation memorandum for a transaction, impairment test or lending review.

The course suits professionals who value, finance or approve oil and gas assets, including:

• Petroleum economists and commercial analysts
• Corporate finance and investment analysts in energy companies
• Reservoir, petroleum and asset engineers who support business cases
• Bankers and credit officers handling reserve-based lending
• Mergers, acquisitions and business development managers
• External and internal auditors reviewing reserves and impairments
• Regulatory and ministry officials reviewing field development economics
• Joint venture and partner relations managers

Participants leave the course with:

• A working field valuation model they can adapt to their own assets.
• A template for documenting price, cost and fiscal assumptions in an audit-ready form.
• A sensitivity table method for showing which assumptions move value most.
• A risking approach for assets that are not yet proven.
• A drafted valuation memorandum structured for an investment committee.
• A checklist of common valuation errors to review before a model is released.

Sessions follow the sequence of a real valuation assignment and keep theory short. Delivery includes:

• Concise briefings on each valuation step
• A cumulative spreadsheet model built from sample field data
• Fiscal term case files covering concession and production sharing examples
• Pair reviews in which participants audit one another's assumptions
• A closing presentation of a valuation memorandum with feedback

Delegates who attend the sessions and complete the modelling exercises are awarded a CPD-accredited Certificate of Completion by Vision Reach Global Consultancy.