Petroleum Reserves and Resources Forum

This one-day class provides an overview of portfolio management, reserve and resource reporting and methods and best practices for assessing and risking reserves and resources. The course objective is to provide interpreters and managers with the knowledge needed to evaluate resources and reserves, minimize bias in defining uncertainty and risk so that they have a better chance of building a profitable portfolio of opportunities.

Instructor

Bob Shoup is the Chief Geologist for Subsurface Consulting &Associates LLC (SCA) and Director of Clastic Reservoir Systems. He is a Board Certified Petroleum Geologist with over 40 years’ experience in basin analysis, regional studies, new play generation, prospect evaluation, field studies, and project management. Bob began his career at Shell Oil in 1980; followed by four years working for private oil companies before becoming an independent consultant in 2003, consulting in Thailand, Malaysia, Vietnam, and New Zealand. In addition to consulting, Bob is an instructor for Subsurface Consulting and Associates where he teaches courses in basin analysis, prospect evaluation, subsurface mapping, map review, clastic depositional environments, and reserve estimation. Bob has also conducted peer and project reviews and map audits for a number of companies. Bob is a proven oil finder with a 46% exploration success rate and over 135 MMBOE discovered reserves.

This course summarizes the “Petroleum Resources Management System (PRMS) classification system. PRMS guidelines are compared to SEC reserves reporting rules which, at the option of the audience, are also covered in significant depth. The course also emphasizes guidelines for unconventional (low permeability) resources, which are underemphasized in the original (2007) PRMS document but have received more detailed coverage in the updated Canadian Oil & Gas Evaluation Handbook (COGEH) in a recent section on Reserves Other Than Resources (ROTR).