Deterministic Resources Evaluation

Fundamentals 

• Basic definitions and classification of types of reserves
• Estimation of reserves by analogy and volumetric techniques
• Class exercises

Participants will learn the basic definitions and classification of types of reserves.  Estimation of reserves by analogy and volumetric techniques will be discussed.  Students will be expected to show what they have learned by completing various class exercises throughout this day.

Material Balance and Decline Curve Analysis 

• Estimation of reserves by material balance and decline curve analysis techniques
• Class examples

This day will focus mainly on how to estimate reserves using material balance and decline curve techniques.  Class examples will be used to help participants gain a greater understanding of the techniques.

Production Data Analysis and Simulation 

• Estimation of reserves using production data analysis and simulation
• Class exercises

Participants with learn how to estimate reserves by using production data analysis and simulation.  Once again, on this day class exercises will be completed throughout the day to help students gain a better understanding of the techniques discussed.

Cash Flow 

• Time value of money
• Cash flow analysis
• Before and after tax cash flow analysis
• Class exercises

On this day the course will focus on the time value of money along with cash flow analysis of reserves.  Participants will also learn about the before and after tax cash flow analysis.  Class room exercises will be administered to gauge the participants understanding of the concepts.

International Contracts and Reporting Requirements 

• Financial yardsticks (net present value, rate of return, etc.)
• Reserve reporting requirements for publicly traded companies
• Reserves and international contracts
• Final exam 

Participants will learn about the different types of financial yardsticks.  Reserve reporting requirements for publicly traded companies will be discussed.  Reserves will also be discussed with respect to international contracts.  Once these subjects have been thoroughly reviewed, a final exam will be given to measure the competency of each participant.