As a member of the JPT Editorial Committee, I am privileged to review papers presented at SPE events during the last year in the area of Reserves and Asset Management. I am always impressed by the highly skilled, innovative members of our Society who address the constant change in our industry in these papers.
Recently, many of the reserves papers have focused on changes in reserves and resource estimation resulting from the introduction of the Petroleum Resource Management System (PRMS) and the US Securities and Exchange Commission’s (SEC’s) Modernized Rules. Last year, many of the papers dealt with theoretical aspects of reserves estimation in unconventional plays. This year, most of the papers dealt with unconventional reserves, focusing on integration of theoretical and practical aspects of the engineering principles used to estimate reserves and resources. Several papers went full circle to address how issues around PRMS or the SEC’s Modernized Rules affect reserves and resource estimation in unconventional resources.
There was a similar shift in asset-management papers. Prior years were weighted heavily toward theoretical-optimization approaches, primarily focused on surface facilities. This year, there were many excellent papers addressing the practical application of those principles in technically challenging, high-cost environments. Integration of surface and subsurface components to improve efficiency was another recurring theme.
The fact that I could select only a few of the many outstanding papers that I reviewed highlights the importance of attending the venues at which these papers are presented. The insight provided during the presentation’s opportunity to ask questions yields valuable information that cannot be obtained by reading the paper alone. I selected the papers for highlighting and those recommended for additional reading with a view to the needs and interests of the membership of our global society. I hope I found something that will benefit each of you.
Read the paper synopses in the December 2011 issue of JPT.
Delores Hinkle, SPE, is Director, Corporate Reserves, for Marathon Oil Company. She has worked for Marathon for 25 years and has 35 years of experience in the oil industry, including positions at Atlantic Richfield Company and Sun. Hinkle has served as Chairperson of the SPE Oil and Gas Reserves Committee and served on the 2010 SPE Hydrocarbon Economics and Evaluation Symposium Steering Committee and the 2009 SPE Annual Technical Conference and Exhibition Management Program Subcommittee. She serves on the JPT Editorial Committee and on the SPE Gulf Coast Section Scholarship Committee. Hinkle earned a BS degree in petroleum engineering from the Missouri University of Science and Technology and an MBA degree from the University of Alaska, Anchorage.