Evaluating Reserves and Production Potential of Oil & Gas FieldsRafael Sandrea presents an advanced interactive two-day seminar on the techniques for evaluating the production potential of oil and gas fields, reserves estimation and the skills to maximize the financial value of your company’s hydrocarbon assets.
This seminar is designed for geologists, geophysicists, petroleum engineers, for supply analysts, specialists in marketing, acquisitions and divestitures (A&D), economists, and everyone interested in the appraisal of oil and gas fields.
For locations, dates and registration please contact Stephanie at workshops@ipc66.com
Day 1 Morning: Petroleum Systems
Geologic setting of world petroleum systems. Giant oil & gas fields. Extra-heavy oils. Shale oil. Natural gas - associated and non-associated, condensates & natural gas liquids (NGLs). Tight sands gas, coal bed methane & shale gas. Global oil & gas production trends since 1850’s. Trends in oil & gas discoveries since 1900s. What are proven, probable, possible, technical, prospective/speculative reserves? Confidence levels. Reserves classification systems: API, SPE, WPC, AAPG, and UNFC. SEC reports and requirements - their impact on financial statements and company’s performance. Fiscal regimes - mix of PSA’s and royalty/tax. Investors’ indicators: RRR, UDRR.
Afternoon: Reserves Valuation
Reserves estimation methodologies: geologic, volumetric - deterministic and probabilistic. Material balance and production decline models – hyperbolic and logistic. Recovery factors of conventional and unconventional oil and gas fields. Quick estimates of reserves of mature fields – appropriate for pre-audits. Property valuation. Net present value of the cash flow stream. How the value of reserves is affected by different production strategies: high-draw-down, infill drilling, marginal fields. Field examples. How LNG and GTL processes can affect gas reserves.
Day 2
Morning: Production Potential of Oil & Gas Fields
Production behavior of oil and gas fields. Ultimate recoverable reserves. Effects of market fluctuations, new discoveries, infill drilling, and EOR. Estimating the production potential of newly discovered oil & gas reserves. Time to reach peak potential. Estimating production decline rates and reserves depletion of oil and gas fields. Analysis of the decline behavior of several world-class oil & gas fields, of the Big Three (USA, Russia, Saudi Arabia) oil producing countries, and global onshore and offshore oil production.
Afternoon: Future Oil & Gas Production
Production capacity (physical) model. Projections of crude oil production capacity through 2100 for the Big Three oil producing countries and globally. Projections of global natural gas production capacity and for the USA (conventional and unconventional) through 2100. Risk perspectives on oil and gas projected outputs. Comparisons of potential supply with demand outlooks from several institutions (EIA, IEA, and others). Regional sources of future global natural gas supply through 2030. Investments required.
