This comprehensive 5-day course is an introduction or refresher for the techniques of evaluating Canadian oil and gas properties, but the techniques used in this course also apply to oil and gas properties elsewhere in the world. There is ample opportunity to work problems in class. By the end of this course, participants will be able to evaluate an oil and gas property and interpret evaluations done by others. Topics include:
 • How to estimate oil and gas reserves and forecast production
 • Forms of ownership and the state royalty regimes in Western Canada
 • How to understand and categorize capital and operating costs
 • How to discount future cash flows and interpret profitability
 • How to check income tax calculations in evaluations
 • Using evaluations for investments, acquisitions and divestments
 • Understanding probability in estimating reserve 

The overall learning objective for this course is how to evaluate or interpret the evaluation of an oil and gas property in Canada. Specific learning objectives include:

• Techniques used to estimate oil and gas reserves and forecast oil and gas production
• An introduction to interests, including forms of ownership and the state royalty regimes that exist in Western Canada
• How to understand and categorize capital and operating costs
• Reviewing price forecasts and demonstrating how to use them
• Knowing how and why to discount future cash flows and interpret profitability indices
• Learning how to check income tax calculations in evaluations
• Understanding definitions of reserves and resources in use in Canada
• Using the results of evaluations for investments, general corporate purposes, acquisitions and divestments
• Understanding basic probabilistic techniques in estimating reserves

The material in the course is very practical, with many tips and insights in evaluating wells, groups of wells, properties and companies. There is ample opportunity to work problems in the course. After taking this course, an attendee will be able to prepare an evaluation of an oil and gas property, or interpret an evaluation of an oil and gas property.

Anyone who wants to understand the process and results of evaluating Canadian oil and gas properties. The course primarily targets engineers but anyone who wants to learn more about evaluating opportunities in the upstream oil and gas sector would benefit from attending this course.

Previous attendees have included:

• Engineers
• Geologists
• Geophysicists
• Land Negotiators
• Accountants
• Technologists

4.0 CEUs (Continuing Education Units) are awarded for this 5-day course.

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. No transfers to other sessions of this course will be allowed after the 14-day window. Send cancellation or transfer requests by email to trainingcourses@spe.org; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.

Sproule Associates Limited supplies a number of instructors for the course. All are experts in evaluating upstream oil and gas investment opportunities, and all have been teaching sections of the course for at least five years. More detailed biographical information for the instructors follows.

Matthew J. O’Blenes, PE has been with Sproule Associates since 1997. He has a BS and MS in mechanical engineering. O’Blenes’ primary job responsibility is the evaluation of Canadian oil and gas properties, with an emphasis on natural gas properties, especially unconventional gas properties.

Peter C. Sidey, PE has been with Sproule Associates since 1997. He has a BS in mechanical engineering. Sidey’s primary job responsibility is the evaluation of Canadian oil and gas properties, with an emphasis on the application of probabilistic evaluation techniques.

Cameron P. Six, PE has been with Sproule Associates since 2004. He has a BS in chemical engineering. Six’s primary job responsibility is the evaluation of Canadian oil and gas properties, with an emphasis on emerging trends.

Nora T. Stewart, PE has been with Sproule Associates since 1989. Stewart’s primary job responsibility is the evaluation of Canadian oil and gas properties, with an emphasis on the development of pricing models.