Join us as Doug Peacock discusses how changes in oil price impact reserves in theory, and with practical industry examples.
Webinar was presented via Zoom on Thursday 8 October 15:00 SGT (UTC+8) Singapore time zone
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.