TRAINING OIL & GAS RESERVE EVALUATION

DESCRIPTION

Reserves evaluation is the process of forecasting the production of existing and planned wells and using these forecasts in combination with economic data to estimate monetary value. This value can be used for determining whether to develop a reservoir, buy or sell a field, or to try and attract investment in a company. In order to provide consistent comparisons between projects, properties, and total companies, evaluation of current and future production values use a classification system. This classification system is used to categorize the uncertainty of production forecasts. Generally, the desired result of the evaluation is to obtain the net present value (NPV) of the project, property, or company.

OUTLINE COURSE

1. BASIC PRINCIPLES AND DEFINITIONS
   1. Petroleum Resources Classification Framework
   2. Project-Based Resources Evaluations
2. CLASSIFICATION AND CATEGORIZATION
   1. Resources Classification
   2. Resources Categorization
   3. Incremental Projects
   4. Unconventional Resources
3. EVALUATION AND REPORTING
   1. Commercial Evaluations
   2. Production Measurement
   3. Resources Entitlement and Recognition
4. ESTIMATING RECOVERABLE QUANTITIES
   1. Analytical Procedures:

i.     Analogs

ii.     Volumetric Estimate

iii.     Material Balance

iv.     Production Performance Analysis

1. 1. Deterministic and Probabilistic Methods

i.     Aggregation Methods

RECOMMENDED AUDIENCE

• Reservoir Engineers & Petroleum Engineers
• Exploration & Production Geologists / Geophysicists
• Reserve Auditors & Evaluation Specialists
• Petroleum Economists & Asset Valuation Analysts
• Asset Managers & Corporate Planners
• Commercial & Joint Venture Leads