Practical Application of PRMS (Petroleum Resources Management System)


Disciplines: Management | Reservoir

Course Description

This course allows an overview and in-depth look at the framework, classifications, and applications of SPE’s Petroleum Resources Management System (PRMS). Participants will gain a solid understanding of this valuable resources management tool, including insight into the latest updated version (PRMS 2018) that is due to be published shortly.

Topics:

  • Defining the project and evaluating risk and uncertainty
  • Incremental projects and unconventional resources
  • Entitlement and recognition
  • Review of resource assessment methods
  • The resource management processes
  • Integrating internal and external reporting

At the end of this course, participants should understand:

  • Resource tracking and reconciliations
  • Special classification and categorization issues
  • Hybrid deterministic and probabilistic methods (will be a class exercise)
  • Quality assurance and quality control
  • Coordinating international standards

Learning Level

Intermediate

Course Length

2 Days

Why Attend

PRMS is a powerful management tool that is widely used in the industry. If your job includes any aspect of resources management, this course will enhance your skills.

Who Attends

This course is for anyone who works closely with the generating and reporting of reserves, and for those who make or use resources estimates for business decisions.

CEUs

1.6 CEUs (Continuing Education Units) are awarded for this 2-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page. Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Instructor

Rawdon Seager is chief reservoir engineer and global director of quality assurance at Gaffney, Cline & Associates’ western hemisphere headquarters in Houston. He has more than 45 years of experience in the international oil and gas arena and has carried out numerous field studies, reserve assessments, and asset evaluations. Seager has also given expert testimony during arbitration hearings.

Other courses by this instructor

Managing Your Business Using PRMS (Petroleum Resources Management System)
Rawdon Seager

This course allows an in-depth look at the framework, classifications and applications of SPE’s Petroleum Resources Management System (PRMS). Participants will gain a solid understanding of this valuable resource management tool.

Topics:

  • An overvie...
Disciplines: Management | Reservoir

Managing Your Business Using PRMS and SEC Standards (2018 Update)
Rawdon Seager
Joshua Oletu

This course is an overview of the 2018 updated SPE Petroleum Resources Management System (PRMS) and the US Securities and Exchange Commission (SEC) regulations. The PRMS is an industry standard approach to classifying petroleum resources. Portfolio man...

Disciplines: Management | Reservoir