Hydrocarbon Reservoir Assessment and Resources Calculation
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Hydrocarbon Reservoir Assessment and Resources Calculation Course
Introduction:
This newly revised course will cover the definitions of and uses for, oil and gas reserves estimates, and how to be compliant with each of the industry standard (SPE-PRMS) and regulator's (US SEC) versions of the reserves requirements. Participants will learn how geoscience and engineering evaluation methods should be used for compliance of reserves estimates, the differences in the evaluation assumptions between PRMS and SEC, and how the inherent uncertainties in reserve estimates are reflected by the categorization of reserves.
Course Objectives:
Participants will learn how to:
- Interpret and apply the 2018 SPE-PRMS reserves definitions and principles
- Interpret and apply the US SEC reserve definitions under SEC reporting regulations
- Generate compliant reserves estimates and reports using either PRMS or SEC definitions
- Comprehend and work with a typical third-party reserves report
- Understand the proper use of traditional engineering and geoscience techniques to satisfy reserve reporting requirements
- Demonstrate the reliability of modern techniques in your reserve estimates
- Prepare for audit reviews of your reserves estimates by third-party auditors, the SEC, or banks
- Document and defend your reserve estimates for external inspection or internal historical records
Who Should Attend?
Individuals with both geoscience and engineering backgrounds.
Course Outlines:
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 the Resource Classification System in view of SPE PRMS latest guidelines. Participants will start discussing the traditional reserves estimation methods; analogy and volumetric methods will be covered in day 1.
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 on day 2. The participants will also learn how project economics are linked to reserves.
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. The basics of descriptive statistics will also be covered.
Statistics, Probability, and Uncertainty
- Basic Probability and Operations with Probabilities
- Probability Distributions
- Expected value
- Probailistic 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.
Probabilistic Reserve Estimation
- Probabilistic Reserves Estimation (continued)
- Monte Carlo Simulation
The last day of the course will cover simulation and probabilistic reserve estimations.
