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Reserves Evaluations / EVAL-06 / 5 days

Evaluation of Heavy Oil Assets

Miles Hughes P.Eng.

Senior Petroleum Engineer and Manager, Strategic Advisory

Matthew O’Blenes P.Eng.

Senior Petroleum Engineer

Hayley Silberg P.Geo.

Geoscientist and Manager, Sproule Training

Cameron Six P.Eng.

President and CEO


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Description

This comprehensive 5-day course presents the foundational components and techniques of evaluating Canadian heavy oil assets. By the end of this course, participants will understand the evaluation process, where to source the appropriate data, how to evaluate a heavy oil asset, interpret evaluations done by others and, ultimately, how to make sound investment decisions using these evaluation techniques. The course lecture material is supported by a number of workshop exercises.

Topics

  • Understanding probability in estimating heavy oil and oil sands reserves
  • Estimating heavy oil and oil sands reserves and forecasting production
  • Distinguishing between different land ownership types and the Crown royalty regimes in Western Canada
  • Understanding and categorizing capital and operating costs, and recognizing the impact of price forecasts and income tax requirements
  • Creating before-and-after tax discount future cash flows and interpret profitability
  • Using evaluations for investments, acquisitions and divestments
  • Understanding reserves and resources definitions, and booking methodologies

Designed for

This course is designed for engineers, geologists, geophysicists, land negotiators, accountants, technologists, and anyone who wants to understand the process and results of evaluating Canadian heavy oil assets.