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PRMS and SEC Reserves and Resources Regulations

W. John Lee, PhD

INSTRUCTOR: W. John Lee, PhD
DISCIPLINE: Engineering
COURSE LENGTH: 2 Days (Classroom) / 4 Half-Day Sessions (Live Online)
CEUS: 1.6
AVAILABILITY: Public, In-House, & Live Online

ATTEND AN UPCOMING CLASS: Contact SCA’s Training Department at training@scacompanies.com to schedule an In-House course.

SAMPLE TOPIC FROM THE CLASS: “The SEC's 'Reliable Technology' Rule: Where Are We Today?” "New PRMS Regulations"

WHO SHOULD ATTEND: Reserves analysts, geologists, geophysicists, reservoir engineers, and managers.

COURSE DESCRIPTION: This course will provide a detailed description of the 2018 PRMS update, including resources classes, categories, and status; resources assessment methods; key changes in the 2018 update (compared to the earlier 2007 PRMS); and navigating in the PRMS document itself.

We will also provide a full description of the modernized SEC reporting regulations, including definitions, reporting requirements, and guidance provided by the SEC staff.

Class time will consist largely of lectures, complemented with topics for group discussion by participants.

LEARNING OUTCOMES:

Following PRMS guidelines, participants will be able to:

  • Place resources into appropriate classifications.
  • Place resources into appropriate categories within classes.
  • Place reserves into appropriate statuses.
  • State key changes in the 2018 PRMS update.
  • Find and use key section of the PRMS document.

Following SEC regulations, participants will be able to:

  • Place reserves into appropriate categories.
  • Place reserves into appropriate statuses.
  • Summarize key reserves reporting requirements.
  • Interpret reserves guidance issued by SEC staff.

COURSE CONTENT:

  • Fundamentals of PRMS
  • Overview of resources classes and categories
  • Details of resources categories and classes
  • Resources assessment methods
  • Key changes in 2018 PRMS update
  • Navigating in the PRMS document
  • SEC reserves definitions
  • SEC disclosure requirements
  • SEC reserves guidance

FIND UPCOMING EVENTS