Oil and Gas Reserves Evaluation

Who should attend:

Participants will be from a range of backgrounds from within the oil industry but should have experience and an understanding of what constitutes an oil/gas reserve.

Content:

This course will cover the following:

• Introduction EOR methods
• Introduction: The economic and commercial importance of reserves
• The supply chain from lead/prospect to booked field reserves
• In-place petroleum volumes, reserves and production profiles
• Specific Definitions: In-place volumes, reserves categories-proven, probable, possible
• The "Below Ground" risks: quantifying volumes from seismic and well data. Full field model simulation studies
• The "Above Ground" risks: operational challenges, tariffs, costs of supply, fiscal environment
• SPE/WPC/AAPG Definitions
• International Reporting Requirements U.S. SEC, UK SORP and other
• Issues with reserves reporting: Deterministic and Probabilistic assessments
• Accounting Issues using Generally Accepted Accounting Procedures GAAP
• Exercise Charting Reserves movements over time
• Valuing Reserves
• Reserves Downgrades
• Impacts of variations in production profiles
• Enhancing recovery
• The regulatory review of enhanced recovery
• Oil and Gas Price Sensitivities and Impact on Reserves. Impairment Tests
• Costs: Capital and Operating
• Fiscal Terms: PSAs Cost Oil and Profit Oil Entitlements, Tax/Royalty impacts
• Contentious Reserves Bookings
• Lowest Known Oil
• Gas condensate fields
• Ultra-Heavy Oil Heavy Crudes and Bitumen
• LNG Liquefied Natural Gas
• GTL Gas to liquids
• Future Trends in Reserves Reporting