The upstream petroleum sector is a cornerstone of the global energy landscape. As the world transitions toward more sustainable and diversified energy sources, the role of upstream petroleum economics becomes increasingly complex and dynamic. Blending analytical rigor with real-world case studies from various basins, Upstream Dynamics serves as a professional guide to the economics that govern oil and gas exploration and production. It covers the full asset life cycle—exploration, appraisal, development, production, and abandonment—linking engineering realities with financial decision-making. It provides insights into exploration, drilling, production, reservoir management, risk mitigation, regulatory compliance, and technological innovation.

• Details project screening, cash flow modeling, fiscal regimes, reserve classification, risk and uncertainty, field development planning, cost estimation, production optimization, and portfolio management
• Goes beyond traditional discounted cash flow by integrating Monte Carlo simulation, real-options thinking, and scenario planning, with clear step-by-step illustrations and spreadsheet-ready examples
• Addresses the commercial impact of regulation, ESG/sustainability, digitalization/AI, and price volatility, translating these into practical decisions on timing, sequencing, and capital allocation
• Features real-world case studies from across the Middle East, the North Sea, the Gulf of Mexico, West Africa, and Southeast Asia
• Emphasizes what practitioners can do on Monday morning: build better economic cases, manage risk credibly, and communicate value to executives, partners, and regulators

Written by an experienced and practicing senior petroleum economist, this text is aimed at industry professionals and stakeholders, including petroleum economists and engineers, as well as asset managers and analysts, to help them successfully navigate the complexities of the upstream oil and gas sector.