Resources and Reserves Evaluation

Resources and Reserves Evaluation

About the course

The participants will learn various compliant methods of preparing reserves estimates, learn to estimate and understand the impact of economics on those estimates, and properly classify those reserves using the current reserves definitions. Recent case studies, SEC audit questions, and class problems are used extensively to develop an understanding of those skills and include ethical issues that arise when calculating and reporting reserves.

 

Course Objectives

Participants will learn how to:
Interpret and apply the 2018 SPE-PRMS reserves definitions and principles

• Interpret and apply the US SEC reserve definitions under SEC reporting regulations
• Generate compliant reserves estimates and reports using either PRMS or SEC definitions
• Comprehend and work with a typical third-party reserves report
• Understand the proper use of traditional engineering and geoscience techniques to satisfy reserve reporting requirements
• Demonstrate the reliability of modern techniques in your reserve estimates
• Prepare for audit reviews of your reserves estimates by third-party auditors, the SEC, or banks
• Document and defend your reserve estimates for external inspection or internal historical records

 

Course Content

Resource Classification

• • Overview of resources classification, Classification of resources and reserves, Supplementary resources and reserves definitions

Petroleum Economics 

• • Basic petroleum economics, Before tax cash flow
  • After tax cash flow, Selecting investments, Economic limit

Deterministic Reserves 

• • Deterministic reserves estimation methods
  • Criteria for analogues, Field examples of deterministic reserves estimates

Statistics, Probability, and Uncertainty

• • Statistics, probability, uncertainty, Expected value and decision trees

Reserve Estimation 

• • Simulation and probabilistic reserves estimation

 

Who Should Attend?

Individuals with both geoscience and engineering backgrounds.

5 Days

Course Fees (VAT Included)

Lagos/PH/Abuja: ₦ 537,500.00

UK/US/Ghana/Dubai: $ 5,375.00

TRAINING PACK 

• Award of Certificate.
• Professional Training Materials

 

REGISTRATION PROCEDURE

1. Go to “Register Now” button and fill the form and send it. You will get “message sent” if it is successful.
2. You will get confirmation of your registration within two working days when you will be asked to go ahead and make payment.
3. Go ahead and make payment.
4. Send your name, phone number, email address, training location, amount paid to info@sbtpetroleum.com.ng OR SMS to +2349098171437.
5. Upon confirmation of your payment, an electronic receipt will be sent to your mail.
6. A joining instruction will be sent to you at least 72 hours before the training date an time.
7. Looking forward to training date to commence your training. However, if a need to change the dates of the training arises, you will be notified immediately. This may be due to unavailability of the instructors or due to unavoidable logistic challenges.

 

ACCOUNT DETAILS

NAIRA ACCOUNT

BANK:                           ECOBANK

ACCOUNT NAME:       SBT PETROLEUM GEOSCIENCE LIMITED

ACCOUNT NUMBER:  1613062169

BRANCH:                     Chevron Branch

SORT CODE:               050150340

 

DOLLAR ACCOUNT

BANK:                           ECOBANK

ACCOUNT NAME:       SBT PETROLEUM GEOSCIENCE LIMITED

ACCOUNT NUMBER: 1613062183

BRANCH:                     Chevron Branch

SORT CODE:               050150340