Oil And Gas Reserves Evaluation

SUITABLE:

Engineers, geoscientists, accountants, bankers, attorneys, and others involved in reserves estimation, auditing or reporting.

OBJECTIVES:

By the end of the course, delegates will:

• Have understanding of substantial details on interpretation of the U.S. Securities & Exchange Commission (SEC) rules for reporting oil and gas reserves.
• Understand the basis for many new SEC reserves definitions, the effects of the new rules on nontraditional resource disclosures and recommendation to for adapting to the new rules.
• Issues with reserves reporting: Deterministic and probabilistic assessments
• Accounting issues using Generally Accepted Accounting Procedures GAAP

SUMMARY:

• Overview of 2009-2010 rules
• Classification of resources
• Petroleum resources management systems
• SEC definitions and disclosure requirements
• Reserves in nontraditional reservoirs
• Compliance with the new SEC rules