Applied Reserve Evaluation Training Course

1. Introduction to Reserves & Resources

1.1 Reserve Definitions & Classifications

• Evolution of reserves definitions and classification systems

• SPE-PRMS framework and resource classification matrix

• SEC guidelines for reserves reporting and disclosure requirements

• Reserves versus resources categories including (prospective resources, contingent resources, reserves, and production)

• Key differences between major classification systems including (SPE-PRMS, SEC, Canadian NI 51-101, and Russian classification)

• Reserves governance and management processes

1.2 Reserves Evaluation Fundamentals

• Key principles of reserves estimation including (reasonable certainty, economic producibility, and project-based approach)

• Reserves evaluation workflow

• Technical and commercial contingencies

• Project maturity and chance of commerciality

• Development plan requirements for reserves booking

2. Deterministic Reserves Evaluation Methods

2.1 Volumetric Methods

• Static volumetric calculation principles

• Reservoir parameters estimation including (gross rock volume, net-to-gross ratio, and porosity)

• Hydrocarbon saturation determination techniques

• Formation volume factors and recovery efficiency estimation

• Uncertainty in volumetric parameters

• Integration of geoscience and engineering data in volumetric assessments

• Quality control and validation approaches for volumetric estimates

2.2 Performance-Based Methods

• Decline curve analysis techniques including (exponential, harmonic, and hyperbolic decline)

• Material balance methods and applications

• Type curve analysis for conventional and unconventional reservoirs

• Production data analysis including (rate-transient analysis and flowing material balance)

• Reservoir simulation applications in reserves evaluation

• Limitations of performance-based methods

3. Probabilistic Reserves Evaluation

3.1 Probabilistic Concepts

• Statistical concepts and distributions in reserves estimation

• Monte Carlo simulation principles and workflow

• Input parameter distribution development

• Correlation between parameters

• Aggregation of probabilistic estimates

• Probabilistic versus deterministic approaches

3.2 Uncertainty & Risk Analysis

• Sources of uncertainty in reserves estimation

• Subsurface risk assessment techniques

• Confidence levels and certainty requirements for different reserves categories

• Sensitivity analysis methods

• Risk mitigation strategies

• Communication of uncertainty to stakeholders

• Documentation requirements for probabilistic evaluations

4. Economic Analysis for Reserves

4.1 Economic Evaluation Fundamentals

• Economic limit concepts and determination

• Cost estimation including (capital expenditures, operating costs, and abandonment costs)

• Price forecasting methodologies

• Fiscal system modeling including (royalties, taxes, and production sharing)

• Discounted cash flow analysis

• Economic indicators including (NPV, IRR, and payout)

4.2 Economic Criteria for Reserves Classification

• Economic producibility tests for reserves

• Price and cost assumptions for different reserves categories

• Reasonable time frame considerations

• Project economics versus property economics

• Handling of taxes and royalties in reserves evaluations

• Economic scenarios for contingent resources

• Integration of economic analysis with technical assessment

5. Reserves Evaluation by Resource Type

5.1 Conventional Oil & Gas Reserves

• Sandstone reservoir evaluation methods

• Carbonate reservoir considerations

• Natural gas reserves estimation challenges

• Gas condensate reservoirs

• Associated gas handling and reporting

• Improved oil recovery considerations

5.2 Unconventional Resources Evaluation

• Tight oil and shale gas evaluation methods

• Resource-in-place assessment techniques

• Recovery factor determination for unconventional plays

• Type well and spacing unit concepts

• Proved area delineation

• Technology-based reserves categorization

• Performance-based reserves assignments

• Decline curve analysis challenges in unconventional plays

5.3 Other Resource Types

• Heavy oil and bitumen evaluation methods

• Coal bed methane reserves estimation

• Gas hydrates assessment approaches

• Enhanced oil recovery projects reserves booking

6. Reserves Reporting & Compliance

6.1 Regulatory Reporting Requirements

• SEC modernized rules overview and implications

• Annual reserves disclosure requirements

• Technical documentation standards

• Qualified reserves evaluator requirements

• Material changes reporting

• Reserves reconciliation requirements

6.2 Reserves Audit & Review Process

• Internal review procedures

• External audit scope and methodology

• Documentation requirements for audits

• Common audit findings and their resolution

• Reserves committee role and responsibilities

• Management's role in reserves reporting

7. Reserves Governance & Management

7.1 Reserves Governance Systems

• Corporate reserves policy development

• Reserves management procedures

• Controls and compliance mechanisms

• Approval hierarchies and authorities

• Documentation and record-keeping requirements

• Software and data management systems

7.2 Reserves Changes Management

• Categories of reserves changes

• Technical versus non-technical revisions

• Acquisitions and divestments handling

• Production reconciliation

• Reserves growth through field development

• Annual reserves review process

• Reserves reconciliation methodology

8. Special Topics in Reserves Evaluation

8.1 Proved Undeveloped Reserves (PUDs)

• PUD booking requirements

• Development planning for PUD conversion

• Reasonable certainty demonstration

• Five-year rule and exceptions

• PUD reserves growth mechanisms

• Documentation requirements for PUDs

8.2 Enhanced Oil Recovery Projects

• Analogy requirements for EOR reserves

• Pilot project evaluation criteria

• Incremental recovery estimation

• Project maturity considerations

• Economic evaluation of EOR projects

• Risk factors specific to EOR reserves

8.3 Unconventional Reserves Challenges

• Technology-based reserves booking

• Well spacing considerations

• Parent-child well interactions

• Type curve development

• EUR sensitivity analysis

• Consideration of productivity variations

9. Software Tools for Reserves Evaluation

• Decline curve analysis software capabilities and limitations

• Probabilistic evaluation tools

• Economic modeling software

• Reserves management databases

• Audit trail and documentation systems

• Integration with reservoir modeling tools

• Data visualization techniques for reserves presentations

10. Decision Analysis in Reserves Management

• Value of information concepts in reserves evaluation

• Portfolio management considerations

• Resource allocation optimization

• Strategic decision making based on reserves

• Management of reserves uncertainty

• Balancing short-term and long-term reserves strategies

• Stakeholder communication strategies

11. Integrated Field Development & Reserves

• Development planning impact on reserves classification

• Field development optimization for reserves maximization

• Facility constraints and reserves bookability

• Phased development approaches

• Development uncertainty and contingency planning

• Integration of subsurface and surface considerations

12. HSE & Sustainable Development Considerations

• Environmental regulations impact on reserves

• Carbon emission constraints and reserves implications

• Water management considerations

• Social license to operate

• Sustainable development principles application

• ESG reporting and reserves

13. Case Studies & Group Discussions

• Regional case studies from Middle East operations including (giant carbonate fields, tight gas resources, and unconventional plays)

• Reserves evaluation successes including (innovative approaches, challenge resolution, and validation techniques)

• Problem-solving exercises including (reserves classification challenges, evaluation method selection, and uncertainty quantification)

• Integrated reserves assessment including (technical and commercial evaluation, compliance considerations, and reporting strategies)

• The importance of proper training in successful reserves evaluation