... Abstract Reserves estimation is crucial to the petroleum business as it involves all financial aspects of the petroleum companies. Among reserves classification, proved reserves always capture the most attention because most value is attached to it. By the SPE definition, proved reserves must...

... Abstract The term "reliable technology" as related to oil and gas reserves estimation is a recent development in reserves classification. This term was introduced in the updated regulations published by the US Securities and Exchange Commission (SEC) in late 2008. This paper will describe how...

... workflow asset and portfolio management revision business rule reserve revision spe 130174 evaluation reserves replacement engineer upstream oil & gas continuous reserve management reserve estimate requirement management system Improving Reserves Systems through Continuous Reserves...

... reserve estimate valuation reserve classification petroleum contingent resource society of petroleum engineers defence document upstream oil & gas expenditure quantity scenario reserves evaluation spe 130160 Introduction A petroleum asset valuation is normally carried out before any...

... Abstract Decline curve analysis is one of the most commonly used techniques to estimate reserves from production data. In tight formations that have been stimulated, especially when there are multiple layers that communicate only at the wellbore, the uncertainty in reserves estimates from...

... best scenario reserve estimate incremental recovery dynamic model modeling & simulation reserves classification probabilistic reserve spe 89983 cumulative oil economics certainty recovery reserves evaluation probabilistic approach take upstream oil & gas society reservoir...

... and upgrade competencies through a rigorous curriculum designed by experts in the field. A secondary benefit would be to help restore a loss of investor confidence in publicly reported reserves estimates. This loss occurred after several major reserves writedowns during the first quarter of 2004. Also...

... Abstract Review of field reserves from different parts of the world reveals that reliability of reserves estimates is rather poor. Many fields show wide fluctuations in reserves estimates through time, both at pre- and post-production stage, with a tendency toward underestimation. Accompanying...

... and uncertainty in the earth and in the industrial and economic world. This is why the industry is moving increasingly away from deterministic reserve estimates to probabilistic, or stochastic, reserve estimates. Ironically, it is the very uncertainty associated with reserves that has enabled and preserved...

... of probabilistic reserves though they do not require this methodology. Not true. Reserves estimates have always been probabilistic whether or not the definition recognized that fact. The weasel words chosen such as reasonably certain, with high confidence, more likely than not , and possible all lay tribute...

... petroleum engineer value probability distribution npv reserve estimate Introduction Reserves acquisition and divestiture decisions are based on many factors including corporate strategy, risk, the company's financial position and cash flow requirements. The value of a prospective acquisition...

... upstream oil & gas cumulative frequency reserve estimate spe 25830 reserve estimate petroleum engineer society INTRODUCTION This paper breaks no new ground in it's call for using practical probabilistic methods for defining reserves. In fact the problem has always begged...

... of the ultimate recovery will generally improve with increased production history. The use of curve fitting techniques will not necessarily increase the accuracy of estimating remaining reserves and may, in some cases, lead to unreasonable answers. Reserve estimates will also vary among reserve estimators using...

... 1.1 Is the organizational structure documented by an organizational chart? 1.2 Are there written job descriptions? Are minimum qualifications for reserve estimators documented? Are SPE guidelines followed? Are experience requirements documented for those in responsible charge...

... initial proved reserves estimates approach what is called the ultimate proved reserves estimate. This paper deals with the problem of determining the ultimate proved reserves estimate given an initial, or discovery year, proved reserves estimate. Our analysis shows a decrease, though not statistically...

..., are reliable estimates; others, such as total oil discovered, are not reliable. In the year of discovery of an oil and gas field, when we are most interested in the total volume of oil that will be produced from it, competent and honest authorities may make reserve estimates differing by a factor of four...