JCORET OKs Training Process
The Joint Committee On Petroleum Reserves Evaluator Training (JCORET) has approved bylaws toward its purpose of developing or approving training courses for geoscientists and engineers concerned with reserves evaluation.
Eleven courses have been identified and one has been approved with several others under review, according to Daniel J. Tearpock, AAPG representative to JCORET. AAPG member Bill Kazmann, Dallas, also serves on the board.
JCORET was formed last year with representatives from AAPG, the Society of Petroleum Engineers, World Petroleum Council and the Society of Evaluation Engineers, in response to questions concerning reserve estimation reliability.
Tearpock said the estimates are important for public companies and the U.S. Securites and Exchange Commission as well as “to other international regulatory agencies, financial analysts and banks, as well as investors – all of whom want the assurance of reliable reserves and resources estimates.
“Whether someone wishes to invest in an exploration prospect, purchase interests in a producing field or determine the value of a company, the estimates of reserves and resources may be the most important factors in any decision,” he said.
A full report on JCORET is available in the EXPLORER area of www.aapg.org.