PETROENG 7052 - Oil & Gas Resources & Reserves

This course explains the strength and weaknesses of various reserves estimating methodologies, including the difference between resources and reserves and the difference between reserve estimates used for regulatory reporting and those used for business decision making. Exploration and development views will be covered, as are deterministic and probabilistic methods, with the aim of gaining a thorough understanding of various reserves levels and their equivalence in both systems, in terms of proved, proved plus probable, and proved plus probably plus possible. The course will cover alternative estimation methods, such as volumetrics, material balance and decline curve analysis. An appreciation will be gained of data limitations and uncertainty and how this is reflected in final volumes and hence risk.

Subject to course co-ordinator discretion, this course may also provide an understanding of Reservoir Engineering Principles pertaining to Natural Gas Reservoirs. Individual well and total reservoir performance analysis may be addressed. Various reserve calculation techniques may provide understanding of the applicability of different methods at different points in the life cycle of the reservoir.