Resource Assessment and Risk and Uncertainty Management

INSTRUCTOR: Robert 'Bob' Shoup
DISCIPLINE: Geoscience
COURSE LENGTH (DAYS): 1 Day
CEUS: 0.8
AVAILABILITY: In-House

ATTEND AN UPCOMING CLASS:

 

WHO SHOULD ATTEND: Geoscientists, reservoir engineers, and team leaders involved with assessing and booking reserves and resources.

WHY YOU SHOULD ATTEND: The reserves and resources booked by a company are the foundation of the company’s value. This class will help ensure that the assessment of reserves and resources are as accurate as the data allows and are reported in a manner consistent with industry recommended standards.

COURSE DESCRIPTION: This class will review the Petroleum Resource Management System (PRMS) and the guidelines for reporting reserves and resources and will present a number of industry best-practices for assessing those reserves and resources.

This one day class provides an overview of portfolio management, reserve and resource reporting and methods and best practices for assessing and risking those reserves and resources.

LEARNING OUTCOMES:

  • Learn the Petroleum Resource Management System (PRMS) for reporting and booking reserves and resources
  • Understand the fundamentals of Portfolio Management
  • Learn the difference risk and uncertainty in estimating reserves and resources, and how to evaluate both

 

COURSE CONTENT:

DAY 1 AM

    • Introduction
    • Portfolio Management
    • Resource and Reserve Reporting Ethics
    • PRMS

DAY 1 PM

  • OGIP and STOOIP
  • Uncertainty vs Risk
  • Quantifying Uncertainty, the Rose Method
  • Quantifying Risk

 

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