PRMS and SEC Reserves and Resources Regulations

INSTRUCTORS: W. John Lee PhD
Discipline: Introductory & Multi-Disciplinary, Engineering
Course Length (days): 2
CEUs: 1.6
Public/ In-house/ Both: Public & In-House
Who Should Attend:

Geologists, engineers, supervisors, managers, financial analysts, investors, bankers, or anyone who needs to understand the industry standard methods to classify and report reserves and resources.

Course Description:

This course summarizes the PRMS resources classification system and the SEC regulatory system for reporting reserves. The course summarizes the PRMS guidelines, which were the basis for many of the modernized SEC reserves guidelines and which also provide a systematic procedure to inventory resources, especially important for resources other than reserves (ROTR). SEC reserves definitions, reporting requirements, and guidance are included.

LEARNING OUTCOMES:

  • Be able to apply PRMS resources classification system
  • Be able to apply SEC reserves reporting guidelines
  • Be able to apply both deterministic and probabilistic resources estimation procedures
  • Be able to apply PRMS-compliant procedures to unconventional resources
Course Content
  • PRMS guidelines for classification of projects and categorization of recoverable quantities.
  • SEC guidelines for reserves classification and categorization
  • SEC guidelines for reserves reporting
  • SEC guidance for reserves classification and reporting