6 - Reserve Categories

6 - Reserve Categories - PETE 3053 – SUBSURFACE ASPECTS...

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Unformatted text preview: PETE 3053 – SUBSURFACE ASPECTS OF PETE 3053 – SUBSURFACE ASPECTS OF PETROLEUM ENGINEERING Reserve Categories ­ 6 Resources (Reserves)– are those quantities which are anticipated to be commercially recovered from known accumulations from a given date forward. Proven Resources – are those quantities which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions, operating methods, and government regulations. If deterministic methods are used, the term reasonable certainty is intended to express a high degree of confidence that the quantities will be recovered. If probabilistic methods are used, there should be at least a 90% probability that the quantities actually recovered will equal or exceed the estimate. In general, resources are considered proved if the commercial production of the reservoir is supported by actual production or formation tests. In certain cases, proved resources may be assigned on the basis of well logs and/or core analyses that indicate the subject reservoir is analogous to reservoirs in the same area that are producing or have demonstrated the ability to produce on formation tests. Unproven Resources – are based on geologic and/or engineering data similar to that used in estimates of proved resources; but technical, contractual, economic, or regulatory uncertainties preclude such resources being classified as proved. Unproved resources may be further classified as probable resources and possible resources Probable Resources Probable Resources ­ are those unproved resources which analysis of geological and engineering data suggests are more likely than not to be recoverable. In this context, when probabilistic methods are used, there should be at least a 50% probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable resources. Possible Resources Possible Resources ­ are those unproved resources which analysis of geological and engineering data suggests are less likely to be recoverable than probable resources. In this context, when probabilistic methods are used, there should be at least a 10% probability that the quantities actually recovered will equal or exceed the sum of estimated proved plus probable plus possible resources. Developed Resources Developed Resources ­ are expected to be recovered from existing wells including resources behind pipe Producing Developed Producing Developed Resources ­ resources subcategorized as producing are expected to be recovered from completion intervals which are open and producing at the time of the estimate. Non­Producing Developed Non­Producing Developed Resources ­ resources subcategorized as non­producing include shut­in and behind­pipe resources. Shut­in resources are expected to be recovered from completions intervals which are open at the time of the estimate but which have not started producing, wells which were shut­in for market conditions or pipeline connections or wells not capable of production for mechanical reasons. Behind pipe resources are expected to be recovered from zones in existing wells, which will require additional completion work or future recompletion prior to the start of production. Undeveloped Resources Undeveloped Resources ­ are expected to be recovered from new wells on undrilled acreage, from deepening existing wells to a different reservoir or where a relatively large expenditure is required to recomplete an existing well or install production or transportation facilities for primary or improved recovery projects. Classifications of Importance for Classifications of Importance for PETE 3053 Unproven Resources (Reserves) Probable Possible ...
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