Oil and Gas Reserves Evaluation

OBJECTIVES

• Correctly interpret and apply the SPE-PRMS reserves definitions and principles
• Interpret and apply the SEC Modernization of Oil and Gas Reporting definitions and guidelines
• Generate compliant reserves estimates and reports using either set of definitions
• Understand and use various traditional engineering and geoscience techniques to satisfy reserves reporting requirements
• Incorporate modern, reliable technology into your reserves estimates
• Document your reserves estimations
• Prepare for an SEC, third party, or bank audit of your work
• Successfully defend your estimates during an audit
• Conduct a thorough audit of another party’s reserves report

WHO SHOULD ATTEND?

Geologists, geophysicists, reservoir engineers, reserves managers, bankers, and government officials involved in reserves reporting, reserves auditing, and reserves estimations.

COURSE OUTLINE

• Purpose and uses of reserves estimates
• Types of reserves studies
• How to read and understand a reserves report
• SPE-PRMS reserves definitions
• SEC reserves definitions
• Compliant reserves estimation methods using: analogies, volumetric analysis, performance analysis, and material balance
• Supplemental compliant estimation techniques incorporating: probabilistic analysis and simulation
• Economics and reserves
• Special reserves estimation topics – reserves reporting in low permeability reservoirs, shale gas reservoirs, CBM, and EOR projects