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Petroleum and Unconventional Resources Reserves: Understanding the Economic, Technical, Environmental, and Regulatory Aspects

23 – 24 September 2013

Bogota, Colombia | Hilton Bogota

Technical Agenda

Monday, 23 September, 0830 - 0900

Keynote Speaker

Rafael Ernesto Guzman, ECOPETROL

0900-1030

Session I: Introduction to PRMS

Chairpersons: David G. MacDonald, BP; Sonia Valderrama, Ecopetrol

The SPE Petroleum Resources Management System PRMS (2007) was generated with a common effort of some of the most recognized technical associations of the oil industry: SPE, WPC, AAPG, SPEE and SEG. It was complemented with the Guidelines for Application of the PRMS, which was delivered in 2011. Both documents present the definitions and details of the hydrocarbon resources classification system, including unconventional reservoirs.

The focus of this session will be a general overview of the PRMS.

  • Speaker 1: Hernan Acuna, Ryder Scott
    Comparison between the SEC and the SPE PRMS Definitions
  • Speaker 2: Oscar Valbuena, Emerald Energy PLC
    Compliance Requirements from Resources to Proved Reserve
  • Speaker 3: César Alejandro Mar Alvarez, CNH
    Mexico Reserves Overview Analyzing and Applying the PRMS

1100–1200

Session II: Reserves Estimation and Management – Case studies

Session Chairpersons: Andrés Suarez, Hocol; Claudia Sanchez, Ecopetrol

One of the goals of the PRMS, is the comparability between projects and portfolios. Application cases on how to improve the understanding of how the system applies to projects at different exploration/development stages will be presented during this session. Case studies on the importance of a reserve management process and its automation will also be covered here.

  • Speaker 1: Oman Oquendo, Gaffney, Cline & Associates
    DCA as a Reserve Estimation Tool
  • Speaker 2: Ulises Neri, CNH Mexico
    Reserves Estimations and Challenges at the Chicontepec Project in México

1330 – 1530

Session III: Non-technical Issues

Session Chairpersons: Oscar Valbuena, Emerald Energy PLC

According with its corresponding category, reserves and resources must comply with non-technical thresholds and meet environmental issues, as well as other internal/external approvals and challenges. This session will address select commercial, environmental and logistical issues that are common concerns, along with others that are specific for unconventional reservoirs, including the impact on reserve bookings.

  • Speaker 1: Keith Macleod, Sproule
    Reserve/Resource Disclosure in Canada versus US
  • Speaker 2: Kenneth Smith, Ernst & Young
    Reserves Data in Financial Statement Preparation and Expected Future Trends
  • Speaker 3: Andres Roa, Deloitte Colombia
    IFR Report Requirements and potential impacts in the IFRS implementation process in Colombia
  • Speaker 4: Edward Tovar, Ecopetrol
    Unconventional Reservoirs: Definitions and Considerations for The Exploration Phase in Colombia

1600–1730

Session IV: Managing Reservoir Uncertainties in Resources Estimation

Session Chairpersons: Ulises Neri, CNH Mexico

In any reserves estimation case, there is some uncertainty on the result. Managing that uncertainty in a proper way gives confidence in the result and the resource/reserve category being estimated. The focus of this session is to present some cases with uncertainty and the management done to that uncertainty.

  • Speaker 1: Oscar Vega, Hunt Oil
    Relevance of the pressure analysis and multidisciplinary information for in situ estimation and hydrocarbon definition and reserves. Case Study
  • Speaker 2: David McDonald, BP
    Contingent Resources: Continuous Progression for Value
  • Speaker 3: Ing. Reynaldo Cervantes, UNIPETRO ABC
    A Probabilistic Risk Assessment Modelfor Oil & Gas Fields

1730

Networking Reception


Tuesday, 24 September ,
0830–1000

Opening Remarks

Session V: Introduction to Unconventional Reservoirs – Part I

Session Chairpersons: Cesar Patiño, Ecopetrol; Claudia Sanchez, Ecopetrol

Unconventional reservoirs are becoming more important in the oil industry. Production and the reserves growth associated to them are huge, and more companies and countries are getting involved in the exploration and development of production and reserves growth. This session will provide a general introduction to the characteristics of unconventional reservoirs, and its differences from conventional reservoirs in terms of exploration, development, and resources estimation.

  • Speaker 1: Raphael Altman, Schlumberger
    Differences Between Unconventional and Conventional Reservoirs: An Overview
  • Speaker 2: Hugo Giampaoli, Alejandro Gagliano GiGa Consulting
    Shale in Argentina (three years), Production and Reserves Overview
  • Speaker 3: Chad Hartman, Weatherford
    Tight Oil Reservoir Characterization and the Difficulties Associated with Quantification of Producible Oil-in-place

10151045

Session V: Introduction to Unconventional Reservoirs – Part II

Session Chairpersons: Cesar Patiño, Ecopetrol; Claudia Sanchez, Ecopetrol; Raphael Altman, Schlumberger

Unconventional reservoirs are becoming more important in the oil industry. Production and the reserves growth associated to them are huge, and more companies and countries are getting involved in the exploration and development of production and reserves growth. This session will provide a general introduction to the characteristics of unconventional reservoirs, and its differences from conventional reservoirs in terms of exploration, development, and resources estimation.

  • Speaker 4:Dilhan Ilk, DeGolyer and MacNaughton
    Oil and Gas Production from Unconventional Resources: Perspectives on Well Performance Analysis and Production Forecasting
  • Speaker 5: Keith Macleod, Sproule
    An example of reserves booking for an unconventional play in Canada
  • Speaker 6: Robin Mann, Deloitte Calgary
    Introduction to Unconventional Reservoirs

1200 - 1330

Session VI: Reserves Estimation: Conventional vs. Unconventional

Session Chairperson: Oscar Valbuena, Emerald Energy PLC; Keith MacLeod, Sproule

Reservoir characteristics and resources/reserves estimation workflows are different in unconventional reservoirs, as well as, the applicability of PRMS to this kind of resource. Considering that PRMS provides updated definitions that establish a universal language which can be used for estimating and classifying resources of unconventional reservoirs, and that the estimation of these resources a young activity in the oil industry—this session will cover resources/reserves estimation workflows, with an emphasis on uncertainties, actual management of them, and existing challenges.

  • Speaker 1: Herman Acuña, Ryder Scott
    Unconventional Resources and Portfolio Analysis
  • Speaker 2: Raphael Altman, Schlumberger
    Unconventional Hydrocarbon Reserves Estimations and Challenges
  • Speaker 3: Robin Bertram, Deloitte Calgary
    Conventional versus Unconventional Reserve Estimation

1430-1530

Session VII: Reserves Methodology—Differences in Government Reporting, Financial Requirements, and Audit Standards

Session Chairpersons: Keith MacLeod, Sproule

The SPE-PRMS is written as a set of technical guidelines to support consistent project evaluations and portfolio management. It is not designed as regulatory reporting rules. The SEC and others regulate the reporting of reserves for publicly traded companies. Many of the reserves definitions proposed by the SPE are similar. This session will address such topics as the SEC’s view of probabilistic methods, comparing the SEC rules for unconventional resources to the SPE-PRMS Monograph 3, and a reserve definition comparison of the SEC to the SPE-PRMS.

  • Speaker 1: Robin Bertram, Deloitte Calgary
    Overview SPEE Monograph 3
  • Speaker 2: David G. MacDonald, BP
    An introduction to the United Nations Framework Classification

1600–1730

Panel Session
Unconventional Hydrocarbons: A Change and Challenge for the Oil Industry

Session Chairpersons: Dilhan Ilk, DeGolyer and MacNaughton

New technology and better oil and gas prices have allowed to develop unconventional reservoirs, first in North America and now around the world. Latin America is not the exception and day after day new countries are starting the exploration of this "new" resource. At the same time, and starting with more advanced countries, the evaluation and reporting of hydrocarbon resources and the fulfillment of certainty requirements for each reserves category represents a huge responsibility for companies and governments.

  • Panelist 1: Keith MacLeod, Sproule
  • Panelist 2: Hernan Acuña, Ryder Scott

1730–1800

Closing Remarks