The Estimation, Classification and Reporting of Reserves and Resources using PRMS (2018 Update)

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Disciplines: Management | Reservoir

Course Description

This course presents the udpated 2018 SPE Petroleum Resources Management System (PRMS), including an in-depth review of the framework, classification and categorization of volumes. The PRMS is an industry standard approach to classififying petroleum resources used by portfolio managers to support their evaluations and decisions. Participants will gain a solid understanding of this valuable resources management tool. In addition, the course will review the US Securities and Exchange Commision (SEC) regulations.

Topics:

• Overview and in-depth look at PRMS
• Defining project and evaluating risk and uncertainty
• Incremental projects and unconventional resources
• Entitlement and recognition
• Review of resource assessment methods
• The Resources management processes

Upon completion of this course, participants will have understanding of:

• International industry practices for reserves and resources estimation especially PRMS and SEC
• Key definitions and guidelines and relationship between reserves and resources
• Handling of risk and uncertainty, including deterministic and probabilistic methodologies

Learning Level

Intermediate

Course Length

1 Day

Why Attend

PRMS is a powerful management tool that is widely used in the industry.If your job includes any aspect of resources management, this course will enhance your skills.

Who Attends

This course is for anyone who works closely with the generating and reporting of reserves, and for those who make or use resources estimates for business decisions.

CEUs

.8 CEUs are awarded for this 1-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructor

Other courses by this instructor