Oil and Gas Reserves Estimates: Recurring Mistakes and Errors

Abstract

Oil and Gas Reserves Estimates: Recurring Mistakes and Errors D. Ronald Harrell; D. Ronald Harrell Ryder Scott Company, L.P., Houstan, Texas Search for other works by this author on: This Site Google Scholar John E. Hodgin; John E. Hodgin Ryder Scott Company, L.P., Houstan, Texas Search for other works by this author on: This Site Google Scholar Thomas Wagenhofer Thomas Wagenhofer Ryder Scott Company, L.P., Houstan, Texas Search for other works by this author on: This Site Google Scholar Paper presented at the SPE Annual Technical Conference and Exhibition, Houston, Texas, September 2004. Paper Number: SPE-91069-MS https://doi.org/10.2118/91069-MS Published: September 26 2004 Cite View This Citation Add to Citation Manager Share Icon Share Twitter LinkedIn Get Permissions Search Site Citation Harrell, D. Ronald, Hodgin, John E., and Thomas Wagenhofer. "Oil and Gas Reserves Estimates: Recurring Mistakes and Errors." Paper presented at the SPE Annual Technical Conference and Exhibition, Houston, Texas, September 2004. doi: https://doi.org/10.2118/91069-MS Download citation file: Ris (Zotero) Reference Manager EasyBib Bookends Mendeley Papers EndNote RefWorks BibTex Search Dropdown Menu toolbar search search input Search input auto suggest filter your search All ContentAll ProceedingsSociety of Petroleum Engineers (SPE)SPE Annual Technical Conference and Exhibition Search Advanced Search Abstract Although most petroleum reserves estimates are prepared by qualified reservoir engineers and geoscientists, there continue to be recurring mistakes and errors in estimates of reserves. This statement is not intended to be presumptuous in any regard, but is based upon observations made by the authors over many years as independent petroleum consultants for both publicly-owned and private exploration and production companies.This paper presents and discusses the most common mistakes and errors associated with reserves estimates. In addition, guidelines are offered that, if followed, may help reduce the chance of such errors occurring.It is the intent of this paper to focus on mistakes made in the preparation of reserves estimates rather than to discuss potentially incorrect applications of petroleum reserves definitions. It is clearly not the intent of this paper to interfere with the necessary judgment the reserves evaluator must employ in preparing reserves estimates.It is inevitable that adherence to applicable reserves definitions must be recognized in any discussion of recommended practices regarding the estimation of petroleum reserves. A generalized definition of reserves without regard to categories or authorship is: Reserves are estimated remaining quantities of hydrocarbons to be commercially produced from a known accumulation as of a given date under specified definitions and economic conditions. Keywords: spe 91069, thickness, fluid contact, reserves evaluation, adjustment, well data, projection, effective reservoir unit, forecast, performance data Subjects: Reservoir Characterization, Formation Evaluation & Management, Reserves Evaluation Copyright 2004, Society of Petroleum Engineers You can access this article if you purchase or spend a download.