Reserves Evaluations / EVAL-10 / Calgary, AB
2 days / 3-4 April 2019
Fundamentals of SPE-PRMS for Technical Professionals
Art McMullen P.Eng., RPEQ
Regional Director, Asia Pacific
Art is Regional Director, Asia Pacific at Sproule. He has over 35 years of technical and management experience in the oil and gas business, including extensive knowledge in many areas of coalbed methane, conventional and unconventional oil and gas. Art specializes in reporting on oil and gas assets to standards required by securities exchanges across the globe and instructs courses on this topic. He also provides advisory on mergers, acquisitions, and disposition. Art has project experience in Canada, Australia, Indonesia and the United States and is responsible for expanding Sproule’s services in Asia Pacific.
This two-day workshop presents the fundamental components of the Petroleum Resources Management System (PRMS) of the Society of Petroleum Engineers (SPE) and provides examples of classification of recoverable volumes of oil and gas in prospective resources, contingent resources, and finally, reserves as the prospects advance maturity.
At the end of the workshop, participants will fully understand the PRMS and how to allocate recoverable volumes to the appropriate reserve categories or resources, and to the project's maturity sub-class. The theoretical material of the course is complemented with exercises to strengthen the concepts on which the PRMS is based.
The resource definitions and course reservations will focus on the specific methodologies used in the PRMS, but they will also compare the classification system and definitions with those used in SEC and other rules.
The material covered in this workshop is practical, and includes advice and ideas applicable to the classification of recoverable volumes of oil and gas accumulations and evaluates the range of uncertainty of the estimates of recoverable volumes.
- PRMS guidelines
- Principles of PRMS
- Classification of reserves and resources
- Prospective resources
- Contingent resources
- Project maturity sub-classes
- Examples of classification
- Blocks of failure
- Not conventional
- Methane in coal layers
- Methods of estimation and categorization of uncertainty
- Financial implications of reserve changes
Although this workshop has a more technical approach related to the classification and estimation of reserves and resources, the course is designed for anyone who wants to understand the concepts applicable to PRMS, such as but not limited to engineers, geologists, geophysicists, land negotiators, accountants, financial investment professionals, technologists.