Oil and Gas
Oil and Gas | Commercial and Risk Analysis
PRMS Reserves & Resource Assessment
Format and Duration:
2 days
4 sessions
The course investigates the classification and categorisation of resources within the SPE-PRMS systems. By the use of particular case studies, the course studies the boundaries between class and category when assessing resources for management and financial disclosure. The methodology for assessing hydrocarbons-in-place and resources is explained and the significance of uncertainty is described. Both deterministic and probabilistic approaches to volumetric assessment are outlined. The engineering toolkit, using static, decline curve, material balance and reservoir simulation, is described. Practical exercises and illustrations of the pitfalls and issues in resource categorisation are illustrated by examples.
Schedule
Duration and Training Method
This is a classroom course comprising lectures, worked examples, case studies, discussions, and exercises.
Course Overview
Learning Outcomes
Participants will learn to:
- Evaluate the different categories of reserves and resources.
- Propose the reasons for uncertainty and the need to address it.
- Assess the volumetric derivation of resources, both deterministically and probabilistically.
- Appraise the limitations of resource assessment methods.
- Assure resource assessments by integrating the relationship between volumes, development plans and economics.
Course Content
Introduction
- List of issues to be covered
- Key concepts
- Resource definitions and guidelines
Primary Resource Estimation Methods
- History and principles
- Framework of resource classification
- Petroleum resource management systems
SPE- PRMS Scheme
- The Project - critical concept and basis for the system
- Risk and uncertainty concepts
- Classification and categorisation
- Contingent Resources rankings
- Commercial considerations
- Reserves check list and “real-life” examples
Resource Booking Approach
Other Reporting Systems
Estimation Tools (Part 1)
- Analogues
- Volumetric derivation of hydrocarbons in-place
- Principles of Monte Carlo analysis
- Reserves vs. Contingent Resources
Assessment of Recovery Factor (RF)
Risk and Uncertainty in Resource Estimation
- Understanding and assessing uncertainty
- Deterministic methods vs. probabilistic methods
- Correlations and dependencies
- Undiscovered resources
Estimation Tools (Part 2)
- Decline curves - Reserves category guidance
- Material balance and numerical simulation - principles, application, and limitations
Commercial Considerations
Case Studies
Who Should Attend and Prerequisites
The course is targeted at mid to senior level engineers and geoscientists needing to better understand the practice of Reserves and resource reporting.
Instructors
Jim Bradly
Background
Jim Bradly is Operational Director for RPS Energy Technical & Advisory Services in EAME. He is responsible for all Energy consulting activities in the regions, project management, quality assurance, technical peer review, project tendering, budgeting and resourcing, and staff development. With over 20 years of experience in the international oil and gas industry, Jim has a wide range of skills and experience in service sector field operations and reservoir engineering consultancy roles.
Jim started his career as a Field Engineer for Western Atlas and then Baker Atlas, before completing an MSc in Petroleum Engineering from Imperial College, London. He joined RPS in 2005 as Senior Reservoir Engineer and was involved in petroleum and reservoir engineering on projects worldwide, covering a variety of different geological, engineering, and fiscal environments, including work on Fractured Reservoirs, Heavy Oil, and Gas Condensate fields. Jim became Reservoir Engineering Manager in 2015 and then Upstream Consulting Manager in 2018, before taking his current role in 2019.
Jim is Subject Matter Expert for Reservoir Engineering, Reserves Evaluation, and GHG Emissions.
Affiliations and Accreditation
MSc Imperial College London - Petroleum Engineering
BEng University of Manchester - Electronic and Electrical Engineering
CEng MEI Chartered Petroleum Engineer
ISO 16064 Qualified GHG Emissions Auditor
Courses Taught
N558: Green House Gas Emissions Quantification and Reporting for Oil and Gas Companies
Gordon Taylor
Background
Gordon has degrees in geology and engineering and has over 35 year’s oil and gas experience the upstream oil and gas industry largely with Shell and latterly RPS. He has broad geophysical and geological knowledge which has been applied to exploration play analyses through to field development projects in most basins in the world. He is highly experienced in asset valuation, economic analysis and new business development. Since 2003 Gordon has been Director of Geoscience, Subsurface and then Managing Director of Consulting for RPS Energy. He semi-retired in 2016 and is now Director of Consulting.
Gordon is a Chartered Engineer and Chartered Geologist in UK and a Certified Geologist in USA. With these professional qualifications he has been the principal author of numerous public-domain Reserves reports, Competent Persons Reports and due diligence reports using various international reporting standards. Experienced in resource assessment of unconventional hydrocarbons particularly shale gas.
He has significant business experience gained in developing a major international independent consultancy offering a broad range of expertise and experience
Courses Taught
N988: PRMS Reserves & Resource Assessment
Accreditation and Certification
CEU: 1.4 Continuing Education Units
PDH: 14 Professional Development Hours
Certificate: Certificate Issued Upon Completion
RPS is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. We comply with the ANSI/IACET Standard, which is recognised internationally as a standard of excellence in instructional practices.
We issue a Certificate of Attendance which verifies the number of training hours attended. Our courses are generally accepted by most professional licensing boards/associations towards continuing education credits. Please check with your licensing board to determine if the courses and certificate of attendance meet their specific criteria.