• Class and Course

    Resources and Reserves Evaluation

    This course will discuss SPE PRMS guidelines (June 2018 version). SEC regulations will also be summarized by comparing important definitions with PRMS. Resources classification and categorization will be given on a framework along with a guideline for the application of these definitions.

    The course will update G&G and reservoir engineers with the current deterministic and probabilistic reserves  estimation methods.

    Day 1

    Resources and Reserves

    • Introduction
    • Overview of Resource Classification System in view of SPE PRMS latest guidelines
    • Deterministic Reserves Estimation Methods
      • Analogy
      • Volumetric
      • Recovery Factors

    Day one of this course will begin with an introduction and a basic overview of Resource Classification System in view of SPE PRMS latest guidelines (June 2018 version).  Participants will start discussing the traditional reserves estimation methods; analogy and volumetric methods will be covered in day 1.

    Day 2

    Reserves Estimation and Link to Project Economics

    • Deterministic Reserves Estimation Methods (continued)
      • Material Balance Analysis
      • Classical Decline Curve Analysis
      • Advanced Decline Curve Analysis
    • Reserves: Link to Project Economics and Valuation

    On this day participants will continue discussing the reserves estimation methods.  Material Balance Analysis and Decline Curve Analysis will be covered in day 2. The participants will also learn how project economics are linked to reserves.

    Day 3

    Deterministic Field Example

    • Deterministic Analysis on an Example Field
    • Basics of Descriptive Statistics

    On day 3 participants will go through deterministic resource and reserves analysis and estimation on an example field. Basics of descriptive statistics will also be covered.

    Day 4

    Statistics, Probability, and Uncertainty 

    • Basic Probability and Operations with Probabilities
    • Probability Distributions
    • Expected value
    • Probabilistic Reserves Estimation

    On this day participants will learn about 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

    Probabilistic Reserve Estimation 

    • Probabilistic Reserves Estimation (continued)
    • Monte Carlo Simulation

    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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