So my input to this the following.
the main complication in economics is that value is not constant in time
for you as normal person 100 bucks in your pocket is 100 bucks
but for economist keeping 100 bucks in the pocket for a one will decrease they value to 10 bucks , since you could invest them a year ago at 10% and earn 10 bucks
The same is in economics- the main idea is that you estimate project and its future cash flows to a ONE year.
For example if you start project in 2014 you will account all future cash flow to this year 2014.
one you will understand this , all other things is simple
The econ analysis is basically production cases ranging based on several key indicators , which are
CashFlow
NPV( normaly discounted at rate 7%)
IRR
Payback
The workflow to calculate this key indicators is straight forward
1. Calculate revenue from the oil or gas produced (use net back price, price - transportation costs) Gross revenue
2. Calculate your operational costs or OPEX
3. Calculate your capital expenditures or CAPEX
4. Calculate your net revenue = gross revenue- opex - capex*ammortization rate
5. Calculate your income tax as rate form you income
6/ Cash flow = Grossrevenue-opex-capex- income tax
7. calculate NPV, Irr, payback
there is to ways of calculation using inflation and not
The you can run sensitivity analysis simply change your inputs to see which is impacting your key parameters most
if PSA is a case allocate cost oil and profit oil as per contracts term and conditions.
But in all one you produce production profile economics is not the difficult thing
Good luck