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


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.

Additional Resources

This course has a supplemental book located in our SPE Bookstore entitled Estimation and Classification of Reserves of Crude Oil, Natural Gas, and Condensate. Please check out this valuable resource!

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.

Instructors

None Rawdon Seager is a reservoir engineer with over 49 years of experience in the international oil and gas arena and has carried out numerous field studies, reserves assessments, and asset evaluations. Throughout his career, Rawdon has been deeply involved with the proper evaluation and reporting of oil and gas reserves and resources using the Petroleum Resources management System (PRMS) and other standards, a subject on which he provides clients with advice and training. His current focus is on the application of the SRMS to carbon capture and storage (CCS) projects and in assessing the impact of carbon pricing on the estimation of reserves. He has worked on several projects that involve an assessment of storage capacity and is using that understanding and current experience to offer training on the proper interpretation of the SRMS. He is based in Houston, Gaffney, Cline & Associates’ western hemisphere headquarters, where he is Chief Reservoir Engineer as well as Global Director of Quality Assurance.

Douglas Peacock has over 35 years of experience in the oil industry covering a variety of geoscience positions, during employment with service companies, operators and consultancies. He has been involved in exploration, development and reserves estimation throughout his career. Currently, he is Technical Director – Geoscience based in GCA’s Singapore office. He is a recent (2013-16) member of the SPE Oil and Gas Reserves Committee (OGRC) and was an SPE Distinguished Lecturer during 2010-11. He has authored numerous technical papers from 1989-2018. He has given many industry training courses, mainly on reserves and resources, both for SPE and GCA. Doug holds a B.Sc. in Geology from Leeds University and a M.Sc. in Petroleum Geology from Imperial College, London.

None Shane Hattingh is a reservoir engineer with 36 years working experience and is currently a Technical Director at Gaffney, Cline and Associates, UK. He conducts and oversees oil and gas Reserves and Resources audits and evaluations and has been responsible for many integrated subsurface studies. Shane has degrees in geology, geophysics and solar-terrestrial physics and PhD in applied mathematics using finite elements to model gas flow in tight fractured reservoirs. He is a member of the SPEE Reserves Definitions Committee and has been a member of the SPEE board of directors from 2020 to 2022. He is a United Kingdom Chartered Scientist, Fellow of the Energy Institute, member of the Institute of Materials, Minerals and Mining and member of the Society of Petroleum Engineers. Shane has more than 25 publications and conference papers.

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