PRMS and SEC Reserves and Resources Regulations
INSTRUCTOR: W. John Lee, PhD
COURSE LENGTH (DAYS): 2 Days (Classroom) / 4 Half-Day Sessions (Live Online)
AVAILABILITY: Public, In-House, & Live Online
ATTEND AN UPCOMING CLASS:
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 PRMS guidelines, the basis for many of the modernized SEC reserves guidelines, are also summarized. These guidelines provide a systematic procedure to inventory resources, which is especially important for resources other than reserves (ROTR). SEC reserves definitions, reporting requirements, and guidance are included.
- 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
- 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
SAMPLE TOPIC FROM THE CLASS:
“The SEC's 'Reliable Technology' Rule: Where Are We Today?”
"New PRMS Regulations"