Reserves Evaluations / EVAL-10 / 2 days
Fundamentals of SPE-PRMS for Technical Professionals Workshop
Cameron Six P.Eng.
President and CEO
As President and CEO, Cameron’s role is to provide the leadership and management required to assure business success and sustainable growth in line with the strategic plan defined by the Board. Cam was previously Chief Operating Officer at Sproule. His 13-year tenure at Sproule includes reserve and contingent resource evaluations, acquisitions, divestitures, security commission reports, reserve audits, and international property evaluations. Cam has provided expert witness testimony across the globe as well as support to legal teams for litigation purposes. He lectures at the University of Calgary, and instructs the Sproule evaluation of Canadian oil and gas properties course. Cam has held various technical and management positions with Mobil Oil Canada and ExxonMobil Canada.
This two-day workshop presents the fundamental components of the Petroleum Resources Management System (PRMS) of the Society of Petroleum Engineers (SPE) and provides examples of classification of recoverable volumes of oil and gas in prospective resources, contingent resources, and finally, reserves as the prospects advance maturity.
At the end of the workshop, participants will fully understand the PRMS and how to allocate recoverable volumes to the appropriate reserve categories or resources, and to the project's maturity sub-class. The theoretical material of the course is complemented with exercises to strengthen the concepts on which the PRMS is based.
The resource definitions and course reservations will focus on the specific methodologies used in the PRMS, but they will also compare the classification system and definitions with those used in SEC and other rules.
The material covered in this workshop is practical, and includes advice and ideas applicable to the classification of recoverable volumes of oil and gas accumulations and evaluates the range of uncertainty of the estimates of recoverable volumes.
• PRMS guidelines
• Principles of PRMS
• Classification of reserves and resources
• Prospective resources
• Contingent resources
• Project maturity sub-classes
• Examples of classification
- Blocks of failure
- Not conventional
- Methane in coal layers
• Methods of estimation and categorization of uncertainty
• Financial implications of reserve changes
Although this workshop has a more technical approach related to the classification and estimation of reserves and resources, the course is designed for anyone who wants to understand the concepts applicable to PRMS, such as but not limited to engineers, geologists, geophysicists, land negotiators, accountants, financial investment professionals, technologists.