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This course will provide participants with a working knowledge of the classifications and definitions of reserves and resources, as well as guidelines for applications of these definitions. SPE-WPC-AAPG, SEC, and other regulatory authorities’ definitions, classifications, and guidelines will be discussed. Reserve estimation methods including analogy, volumetric, material balance, decline trend projection, production data analysis, and simulation will be covered.
This course will also introduce cash flow analysis, both before and after tax, as the basis for establishing the value of reserves and reporting to regulatory authorities. International contracts, reserve recognition and booking will be discussed. The course will emphasize deterministic methods of reserves estimation and evaluation. Spreadsheets will be used to expedite computations.
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.Day 2
Material Balance and Decline Curve Analysis
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.Day 3
Production Data Analysis and Simulation
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.Day 4
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.Day 5
International Contracts and Reporting Requirements
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.
Petroleum engineers, geologists, reserves analysts, and anyone whose job responsibilities include the estimation of reserves.
A basic understanding of geology and reservoir engineering and this is a pre-requisite for registering in the Probabilistic Resources Evaluation course offered by NExT
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