What You DON’T Know about New Reserves Assessment Regulations Can Really Hurt You

Estimating reserves for unconventionals has been a subject of deep, focused study, as new technologies have changed the landscape of ultimate recoverable reserves. The same is now true of mature fields, as in-field development using horizontal drilling and new completion / stimulation methods is effectively recovering previously unrecoverable reserves. To provide up-to-date information DPA and AAPG are partnering to offer a two-day event Oct 31-Nov 1 in Houston, which includes Reserves Forum of experts, and a JCORET-certified evaluator training class, “SEC Reserve Rules and Unconventional Resources,”  by Dr. W. John Lee.

Join leading experts to learn about important new developments making rigorous, consistent and statistically valid reserve estimations; the engineering component of reserve assessment, and compliance and reporting requirements.

Program

Thursday October 31, 2013

8:00-8:15
Forum Introduction
Valary Schulz
Session 1: Global Reserves Assessment
Chair: Valary Schulz

8:15-8:45
Global Resource / Reserve Assessment
EIA

8:45-9:15 Global Resource Assessment
USGS

9:15-9:45
Pitfalls in Unconventional Resource Assessment
Richard Nehring

9:45-10:15 Networking Break; Speakers Available for Discussion
Session 2: Rigorous, Consistent, and Statistically Valid Reserve Estimation
Chair: Bob Shoup

10:15-10:45
Rigorous, Consistent, and Statistically Valid Reserves Require Geologically Possible and Geometrically Valid Maps
Bob Shoup

10:45-11:15
The Case for Probabilistic Estimation of Reserves: Conventional Reserves
Pete Rose

11:15-11:45
The Case for Probabilistic Estimation of Reserves: Unconventional Reserves
Creties Jenkins

11:45-12:15
Certain Uncertainty
Cindy Yeilding

12:15-1:15 Lunch and Networking Opportunity
Session 3: Getting the Numbers Right: The Engineer’s Perspective
Chair: Valary Schulz

1:15-1:45
Becoming a Reserve Estimation Expert
Ron Harrell

1:45-2:15
It’s Not Just About the Volume
Rees

2:15-2:45
Problems with Decline Curves in Unconventional Resource Assessment
John Lee

2:45-3:15 Networking Break; Speakers Available for Discussion
Session 4: Getting the Numbers Right: Compliance and Reporting
Chair: Edith Allison

3:15-3:45
SEC Reserve Reporting Standards
SEC

3:45-4:15
The Impact of Sarbanes-Oxley on Reserve Reports
John Hodgins

4:15-4:45
Disclosing Oil and Gas Reserves and Resources Under Canadian NI51-101 Standards
Philip Chan

Short Course (November 1)

SEC Reserves Rules and Unconventional Resources

About the Instructor

Dr. W. John Lee is best known for his recent publications and presentations on oil and gas reserves regulations and estimation, and production forecasting in unconventional gas reservoirs. He served as an Engineering Fellow with the U.S. Securities & Exchange Commission during 2007-2008, and provided technical assistance to the SEC in its reserves reporting rules modernization effort. He is the author of three textbooks published by SPE, Well Testing, Gas Reservoir Engineering, and Pressure Transient Testing. Dr. Lee was elected to the U.S. National Academy of Engineering in 1993, the Russian Academy of Natural Sciences in 2006, and to Georgia Tech’s first class of its Academy of Distinguished Engineering Alumni in 1994. He became an Honorary Member of AIME/SPE (the societies’ highest recognition) in 2001.

Dr. Lee received the SPE DeGolyer Distinguished Service Medal (the society’s top service award) in 2004, the AIME/SPE Anthony F. Lucas Gold Medal (the societies’ top technical award) in 2003, and the AIME Mineral Industry Education Award in 2002. He received SPE’s Reservoir Engineering Award in 1986 and was named a Distinguished Member in 1987. He is a past member of the Board of Directors of SPE, has been a Distinguished Lecturer, and received the Distinguished Faculty Achievement Award in 1982.

After receiving BChE, MS, and PhD degrees from Georgia Tech, Dr. Lee worked for the Reservoir Studies Division of Exxon Production Research Company from 1962 to 1968. Later he joined and eventually headed Exxon Company, USA’s major fields study group where he supervised integrated field studies of Exxon’s largest domestic reservoirs. In 1975-76, he was District Reservoir Engineer for Exxon’s Houston District. He joined Texas A&M University in 1977 and is currently a regents professor emeritus. He also joined S. A. Holditch & Associates, Inc., petroleum engineering consultants, in 1980 and retired as Executive Vice President in 1999.

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