ABOUT COURSE

COURSE DESCRIPTION

This course is designed for reservoir engineers, reserve evaluators, commercial analysts, and geoscientists, who are actively engaged in practicing conventional reservoir engineering toward reserve evaluation, classification and financial book reporting. The class will be spent on conceptual class exercises and selected field case studies of various resource and reserve evaluation methods, at different stages of project cycle, to explain reservoir engineering aspects and hands-on skills of resource and reserve evaluation.  Participants will also be able to learn how to prepare a quarter reserve memo, and how to read a company’s annual reserve report, and the commercial side of resource-reserve statements.

WHO SHOULD ATTEND

Reservoir engineers, exploitation engineers, reserve evaluators, commercial analysts, geoscientists, and anyone who might be somewhat involved or interested in reserve evaluations using reservoir engineering tools.

WHAT YOU WILL LEARN

• Fundamentals of reserve definitions, classifications, and commercial filings
• Sample reserve reporting regulations (SEC, SPE/PRMS, CSA/NI-50-101) Differences between geoscience's evaluation and engineering/commercial booking
• Key reservoir engineering parameters of reserve evaluation/progression process
• Practical skills of using basic reservoir engineering tool kits to perform reserve evaluations
• Reserve assessment uncertainty quantifications
• How to read the reserve disclosure reports and memos of publicly traded and privately held companies

COURSE CONTENT

1. FUNDAMENTALS OF RESERVE EVALUATION

• Definitions (SPE, SEC & CSA)
• Classification & filing
• Resource progression map
• Certainty & uncertainty

2. TECHNICAL AND COMMERCIAL ASSESSMENT CRITERIA

• Key technical evaluation components

   - Trap/seal

   - Hydrocarbon fills

   - Petrophysics

   - Drainage efficiency

   - Flow assurance

   - Recovery factor

• Key commercial evaluation components

   - Commodity development rights

   - PSA/royalty

   - Sales/exporting

   - Development commitment

3. ANALOG & VOLUMETRIC METHODS

• Use of analogies for volumetrics and performance evaluations
• Volumetric evaluations
• hydrodynamics
• gross volumes
• recovery evaluation methods

4. PROBABILISTIC ESTIMATES & SCOPING ANALYSIS WITH MS EXCELS

• Generating distributions
• Monte Carlo simulations of hydrocarbon-in-place & forecast

5. USE OF WELL TEST FOR RESERVE EVALUATIONS

• Role of well test in reserve evaluation
• Flow assurance/deliverability
• Designing a well test toward reserve evaluations
• Pressure surveillance data toward drainage size/OOIP/OGIP & performance
• Deconvolution analysis for connected reservoir volume

6. PERFORMANCE BASED EVALUATIONS

• Gas material balance (depletion & water mechanism)
• Reservoir simulations prognosis and history matching
• Declines vs. production data (Fetkovitch, Glasingame, FMB methods, and Arps)

7. COMMERCIAL ASPECT AND ECONOMIC MODELING

• Integrating technical & commercial data toward reserve bookings & project planning
• Reserve progression vs. development depletion plan
• Project risk map and mitigations