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The Impact of Low or Volatile Oil Prices on Reserves and Resources Estimates

AAPG Asia Pacific Presents Series

Occurred Thursday, 8 October 2020, 3:00 p.m.–4:00 p.m.  |  Virtual Webinar via Zoom (Singapore, Singapore time)

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Oil price and cost estimates are important inputs into reserves and resources assessments. How do changes to oil price impact reserves assessments? The impact will depend on various factors such that a fall in oil price may increase, decrease or have no impact on reserves. Oil prices and forecasts are used differently within common classification systems such as PRMS and SEC.

Key definitions, such as the terms “economic”, “economic limit” and “commercial” will be explained in the context of the PRMS. Other issues such as the derivation of oil prices forecasts will also be discussed.

This presentation will outline how changes in oil price impact reserves in theory and with practical industry examples.

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Recorded Presentation

This recording is free to watch. Click on the picture or the title of the video to begin watching online.

Doug Peacock
Adrienne Pereira Programs Manager, AAPG Asia Pacific Region
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The American Association of Petroleum Geologists (AAPG) does not endorse or recommend any products and services that may be cited, used or discussed in AAPG publications or in presentations at events associated with AAPG.