Learning Center

Oil & Gas Education

Informed participants make better decisions. These resources are designed for both investors new to the oil and gas sector and experienced participants looking to deepen their understanding.

Select a topic below to explore in-depth educational content. Nothing on this site constitutes tax, legal, or investment advice — always consult qualified professionals before making any decision.

Oil & Gas Fundamentals

How hydrocarbons form, types of wells, the drilling process from spud to first production, decline curves, surface operations, and the regulatory environment.

  • How wells are drilled
  • Production & decline
  • Regulatory framework

Financial & Tax Topics

Working interests vs. royalty interests, net revenue interest, reading a settlement statement, intangible drilling cost deductions, depletion allowances, and passive loss rules.

  • IDC deductions
  • Depletion allowance
  • Revenue distribution

Risk & Due Diligence

Geological, mechanical, price, and operator risk — plus how to read an AFE, evaluate an operator's track record, and identify red flags before committing capital.

  • Evaluating operators
  • Reading an AFE
  • Red flags to watch for

Industry Glossary

Definitions of common oil and gas terms across drilling, production, legal and land, financial, and regulatory categories — organized for quick reference.

  • Drilling terminology
  • Financial terms
  • Legal & land concepts

VP Operating provides this educational content for informational purposes only. It does not constitute tax, legal, investment, or financial advice. Oil and gas participation involves substantial risk, including the possible loss of all invested capital. Consult qualified professional advisors before making any investment decision.