Oil and Gas Economics and Uncertainty

Management and Information


This course will teach participants how to identify, evaluate, and quantify risk and uncertainty in every day oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The course also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.

Topics Include:

  • Strength and weakness of traditional econometric analysis methods
  • The efficient market hypothesis and its application to oil and gas price forecasting
  • Proven volatility/uncertainty reduction methods and tools for the operational side of business
  • How to scientifically and statistically incorporate differing perspectives
  • Ways to develop a revenue forecast that takes the uncertainties into account
  • Portfolio design and management

Learning Level


Course Length

2 Days

Why Attend?

This course will help you develop a better understanding of factors that could impact your daily economic decisions as well as establish a new set of applicable tools to use in your professional career.

Who Should Attend

This course is for professionals involved with economic evaluations, forecasting, and economic decisions in the upstream oil and gas business. It targets producers and operators with oilfield experience.

Special Requirements

Attendees must bring laptops to class.


1.6 CEUs (Continuing Education Units) are awarded for this 2-day course.

Cancellation Policy

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to trainingcourses@spe.org; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.


Rodney Schulz, SPE, is the founder and exclusive instructor for Oil & Gas Economics and Uncertainty, a two-day seminar taught both privately and through SPE. His oil and gas experience includes a wide range of engineering, finance and operational responsibilities throughout North America for both major and independent producers as well as gas processing companies. Schulz’s expert witness experience includes work for a major oil company, the Federal Bankruptcy Court in Corpus Christi and an international law firm. He has also served as the Financial Director/CFO for an organization with 150 employees in six states. In 2003 Mr. Schulz founded Schulz Financial, a rapidly growing retail financial advisory firm with clients across the United States. He has a B.S. in petroleum engineering from the University of Kansas and an M.B.A. from Duke University. Rodney resides with his family in Houston, Texas.