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This course will include the presentation of various reserve estimating methodologies, to include the difference between resources and reserves. The classifications and definitions of these reserves and resources, along with a guideline for the application of these definitions will be covered. SPE, WPC, AAPG, SEC, and other regulatory authority guidelines will be discussed.
The course will update G&G and reservoir engineers with the newest and most accurate methods for obtaining the value of a reserve. Following the completion of this course, all participants should be able to manage deterministic and probabilistic methods, with the aim of gaining a thorough understanding of various reserve levels and their equivalence in both systems.
Day one of this course will begin with a basic overview of resource classification. Participants will learn about the classification of resources and reserves. Supplementary resources and reserve definitions will also be discussed.Day 2
On this day participants will learn about petroleum economics. After starting off with the basics, the participants will also learn about before and after tax cash flow. Selecting investments and the economic limit will also be discussed.Day 3
Participants will learn about deterministic reserves estimation methods on this day. One main focus will be on the criteria for analogues. On this day planned field examples of the deterministic reserve estimates will be shown to the students.Day 4
Statistics, Probability, and Uncertainty
On this day participants will learn about statistics, probability, and uncertainty that are associated with reserves. Day four will also cover the expected value of a reserve and the decision tree.Day 5
The last day of the course will cover simulation and probabilistic reserve estimations.
Individuals with both geoscience and engineering backgrounds
A basic knowledge of reservoir engineering and petroleum geology, along with an Engineering or GeoSciences degree.
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