Petroleum reserves
The shale revolution, the Paris Agreement, and the global pandemic each transformed energy markets. Now, industry leaders say energy pragmatism is emerging.
Bridging the gap between foundational guidance and real-world application, SPE’s Oil and Gas Reserves Committee is advancing PRMS education with a new, peer-reviewed training initiative. This article highlights the evolution of the PRMS knowledge base and introduces the PRMS Training Master Slides—a modular, instructor-led framework designed to improve consistency, cl…
This paper aims to assess the effectiveness of using advanced integrated production-data-analysis techniques for condensate-rich tight gas fields.
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Oil and gas demand is stable or rising in all regions of the world, meaning additional investments are needed for production to keep up. Growing indigenous requirements reduce volumes available for export in many regions, IOGP’s new Global Production Report shows. -
Big-data mining techniques can help determe the type-curves and the resulting estimated ultimate recovery of an asset being evaluated for acquisition.
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Producers in Oklahoma’s newly opened Merge play are sitting atop a resource that rivals some major world gas fields and discoveries, Citizen Energy’s Geology CEO Greg Augsburger told the SPE Gulf Coast Section Business Development Group recently.
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Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
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Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
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Despite a decline in oil and gas production and a decrease in revenue from 2015, an Ernst & Young’s study had a cautiously optimistic outlook as the industry adjusts to what it called “the new normal” of a lower, but stable, oil price.
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Governments, companies, service providers, and many other stakeholders in the industry have realized the oil-price outlook may remain low for longer than expected and the need to plan accordingly.
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This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
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Compared to oil in the ground, the sun looks like a limitless energy source. Making comparisons of the two by calculating the equivalent of barrels of reserves for a solar project seems like an odd notion, but experts say it can and should be done.
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In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
