Petroleum Reserves & Economic Fundamentals       Brochure and Registration Form
This course is an introduction to petroleum reserves, definitions, estimating oil and gas volumes, cash-flow, project economics. Attendees will actually perform exercises calculating reserves using the same methods engineers use. Attendees will also select drilling well prospects on a limited budget. This game separates out the conservative investors from the riverboat gamblers. One of the goals of this class is to illustrate the "moving target" nature of reserves and their valuation. Unlike others, this one really delves into the reserve determination process.
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Mr. Wilson will summarize current issues regarding reserve reporting and will explain the viewpoints of companies and the SEC. Case examples will be presented to illustrate the various opinions as to what can be booked.
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Course Obejctives

Understanding oil and gas reservoirs; reserve definitions & examples
New: Review of proposed SPE definitions for March 2007
Categories: proved, unproved, contingent (PP, PDNP, PUD, Prob, Poss)
Methods used to estimate reserves; Where they work and don't work
New: Material on how 3rd party engineers estimate reserves
Gas and Oil reserve calculating exercises showing the "high & low side" of reserves
Production forecasting: Comparison of US and international basins
Checking out reserve reports; SEC reporting; selected company 10-K's
New: Analysis of how companies fared with 2006 reserve reporting
Review of recent reserve write-downs, reasons and implications
New: More about 3rd party audits, reviews and evaluations
Comparison of SEC & SPE definitions; SOX influences
New: Material about how the SEC reviews & challenges company reserves
Third party engineers; red flags for over/under-stated reserves
New: What triggers an SEC reserve investigation
New: Could the SEC be changing their rules on reserves??
Typical project economic analysis & operating costs
Reversionary interests, back-ins and farmout cash-flow analysis
Gas and oil price forecasting: art versus science
Decision making methods; project comparison
Acquisition and divesting basics; industry trends
Basic energy financing; simple lending and stock models
Excel software reserve & economics templates
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About This Course
Included in each course is a 600+page workbook of slides, charts, illustrations, exercises, outlines and articles. Attendees find this book makes a good reference long after taking the class. Also included is a free software disk of Excel templates: "Reserve Generator" forecasting model, volumetric and decline analysis.
A continental breakfast for morning classes plus midmorning and afternoon break with refreshments will be served.
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Continuing Education Credits

Continuing education credits, CPE, CPL., etc., have been granted for our courses by most states. Please call about your particular professional educational credits.

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Brochure and Registration Form