Petroleum reserves
This paper aims to assess the effectiveness of using advanced integrated production-data-analysis techniques for condensate-rich tight gas fields.
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…
Since the US arrested and removed Venezuelan President Nicolás Maduro on 3 January 2026, all eyes have turned toward the country’s vast oil reserves, the largest of any country. From 2005 to 2024, oil production in Venezuela fell by 70%, from 3.1 million B/D to just 0.9 million B/D. The race is on to bring production back, but aging infrastructure and expatriation pre…
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Since the late 1930s, the offshore industry has advanced from the first platform in 14 ft of water to the ultradeepwater 20K era. Driven by seismic, drilling, and development breakthroughs, the industry has pushed into deeper waters, high-pressure reservoirs, and new frontiers like Guyana, continually expanding the limits of offshore exploration. -
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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SponsoredMOSAIC's advanced Automated Reconciliation to Reserves Workflows enhances accuracy, speeds up processes, and meets the need for precise asset valuation. Equip your reserves teams with reliable information and insights to reduce uncertainty, boost efficiency, and make smarter business decisions.
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This paper discusses how a traditional stochastic approach in project economics used for screening and ranking can sometimes limit management visibility of all possible outcomes in a project.
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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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This paper describes natural fractures and their effect on hydrocarbon productivity in the Vaca Muerta shale formation.
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This study catalogs global gas/oil ratio data to identify currently produced light crude oils that could be rendered carbon neutral through the direct-air-capture mechanism.
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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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We continue to live in volatile times. While there has been an easing of the global pandemic, geopolitical issues and conflicts have been increasing. There is also ever-increasing pressure to sanction and maintain oil and gas projects in a socially and environmentally sustainable manner. These projects can no longer be considered part of an isolated or independent pet…
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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.
