PRMS
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The SPE Oil and Gas Reserves Committee has opened a period for public comments and feedback on the current 2018 PRMS.
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This paper discusses how multiple reliable technologies may be used in concert to establish reasonable certainty for reserves estimates through the flexibility provided by the Petroleum Resources Management System.
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The FAQs present questions frequently received from industry with answers prepared by the FAQ Subcommittee and reviewed by the SPE Oil and Gas Reserves Committee and Petroleum Resources Management System (PRMS) co-sponsors. The FAQs address select topics on the interpretation and application of the PRMS on the evaluation and classification of petroleum reserves and re…
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At a time when there are many models vying to be the one used to evaluate and plan carbon storage sites, the US Department of Energy wants to test one developed by SPE members.
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The Petroleum Resources Management System (PRMS) has long been recognized as the global standard reference for resources and reserves classification and definition. The newly published “2022 Guidelines for Application of the PRMS” is not merely a refresh of the 2011 version but a complete rewrite by contemporary subject-matter experts.
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The complete paper outlines adaptations of the SPE Petroleum Resources Management System to a company’s business processes.
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The SRMS Guidelines include suggestions for the application of the SRMS with the intent of including details of the processes of quantification, categorization, and classification of storable quantities so that the subjective nature of subsurface assessments can be consistent between storage resource assessors.
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A new dose of constraint may just be the best prescription for those making reserves estimates on prospective unconventional resources.
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The authors write that the deterministic incremental reserve assessment method may mislead investors if used wrongly.
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This paper presents a methodology that provides the upstream industry with a robust approach to petroleum inventory management.
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