WORKSHOP 4: The Importance of Petrophysics in Resources and Reserves Estimation
INSTRUCTORS: Joshua Oletu, Luis F. Quintero, Javier Miranda, Philip Gibbons and Cecilia Flores
Date: Sunday, June 11, 2023
Time: 8:00 am – 4:30 pm
Fee: $375.00 for registered attendees; $475.00 non-registered (includes lunch)
Maximum Capacity: 50
Course Summary: The SPWLA- RESERVES SIG wishes to invite all petrophysicists, log and core analysts, to a one-day workshop covering this very important subject, which is critical to our industry. Resources and Reserves estimation is an essential task in our industry for internal resources accounting, financial transactions, and regulatory reporting at the very least. To ensure consistency, transparency, and reliability for these estimations, several entities have developed guidelines. Although the Petroleum Resources Management System by SPE, AAPG WPC, SPEE, SEG, EAGE and SPWLA is recognized an industry-wide standard, different guidelines are tied to different countries and stock exchanges markets. So, with this background, what is the role of Petrophysics in resources and reserves assessment? Also, what are fit-for-purpose guidelines (emphasis on guidelines, not rules) reasonable and necessary.
Expectations: The participants will understand the key role that petrophysics plays in reserves and resources estimation, and ultimately on assets value.
Topic Outline
Join us in the workshop to discuss following topics:
- Overview of Petroleum Resources Management System and other guidelines
- Key principles of PRMS
- Classification, Framework and Definition of Resources
- The role of Petrophysics in resources and reserves estimation
- Net Pay Definition
- Evaluation & Integration methods
- Introduction to the 2022 updated PRMS Application Guidelines
- Introduction to the SRMS and Other topics of interest
Who Should Attend?
All practicing petrophysicists, log analysts, and reserves estimators.
Prerequisites
A basic understanding of petrophysical evaluation, multi-discipline integrated subsurface studies, and project management.
Advanced knowledge of field development planning and regulations is advisable, but not essential.
Tentative Agenda (To be updated)
| Start Time | End Time | Topic | Person in charge |
| 8:00 | 8:30 | Welcome, introductions, general agenda overview | Luis Q. |
| 8:35 | 9:30 | PRMS and other guidelines overview | Javier M. |
| 9:35 | 10:10 | Petrophysics in resources and reserves estimation | Phil |
| 10:10 | 10:30 | Coffee Break | SPWLA |
| 10:30 | 11:00 | Evaluation & Integration methods | Javier M. |
| 11.00 | 12.00 | Group discussion – Key influence areas | Luis Q. |
| 12:00 | 13:00 | Lunch | SPWLA |
| 13:00 | 13:30 | Net pay | Luis Q. |
| 13:30 | 14:00 | Cutoffs and their impact over net pay and volumetrics | Phil / Joshua |
| 14.00 | 15:00 | Group Discussion – Chapter 5 of Application Guidelines | Javier |
| 15.00 | 15.15 | Coffee Break | |
| 15:15 | 16:00 | Uncertainty of petrophysical parameters – Select Topics | Luis Q. |
| 16.00 | 16.30 | Group discussion – Conveyance | |
| 16:30 | 17:00 | Concluding remarks, other topics of interest. The way forward for Chapter 5 of Petrophysics.
Attendees’ feedback, general discussion, future updates, and upcoming SIG board |
Luis Q. / Javier M. / GC PP? |
Content of this training was prepared by:
Luis Quintero, Javier Miranda, Joshua Oletu, Cecilia Flores, and Philip Gibbons.
About The Instructors:
SPWLA Hydrocarbon Reserves Workshop – SIG President
Joshua Oletu is a Principal Advisor at Gaffney, Cline & Associates’ western hemisphere headquarters in Houston. He has some 30 years of experience in the international oil and gas arena and has carried out numerous field studies, reserve assessments, and asset evaluations.
Joshua began his career in 1988 as a Wellsite Petroleum Engineer with Shell Petroleum Development Company, Nigeria and had international postings to the Netherlands, and USA. In 2007, he joined GCA in the United States.
He has a B.Eng (First Class) in Mechanical Engineering from University of Benin, Benin City, Nigeria and MBA, New York Institute of Technology (USA). Joshua is a member of SPE and the Society of Petrophysicists and Well Log Analysts (SPWLA).
SPWLA Hydrocarbon Reserves Workshop – SIG Vice-President
Cecilia Flores is a Senior Petroleum Engineer at Ryder Scott Co. LP where she works as reservoir analyst with skills in numerical simulation engineering in different projects worldwide. Previously, she worked for Halliburton and SLB as Reservoir Consultant and Production Engineer respectively. She has a MSc from Texas A&M University and a BSc from Universidad de Oriente (Venezuela), both in Petroleum Engineering.’
SPWLA Hydrocarbon Reserves Workshop – SIG Advisor and Past President
Dr. Luis Fernando Quintero began his oil career in the oil fields of India in 1994. Since then, he has worked as a petrophysicist, reservoir engineer, asset evaluation leader, production manager, financial analyst, and reserves auditor. He has worked in Venezuela, India, USA, Georgia, Azerbaijan, Russia, Ukraine, Greece, Indonesia, United Arab Emirates, Colombia, and the United Kingdom.
Dr. Quintero started in the SPWLA in 1993 with the reactivation of the Venezuelan chapter. He was a member of the Technology Committee 1997-2005; director for Europe, 2002; vice president of finance, 2005; in 2014, vice-president of technology and in 2015, elected president of the SPWLA worldwide. He has chaired talks at conferences in Japan, Australia, Norway, Colombia, Mexico, Australia, Scotland, Abu Dhabi, USA, and Canada.
Luis’s has been qualified to perform reserves reports, and audit reports for private companies in USA, and for public companies traded in the Toronto Stock Exchange, the Australian Stock Exchange, and for Petrosa, in South Africa.
He has also had the opportunity to be the keynote speaker and give his perspective of the oil industry for TV in India, Colombia, London, Houston, Japan, Nigeria, Azerbaijan, and Saudi Arabia. He has written about energy policy in the World Energy Monthly Review.
Luis Fernando Quintero holds an Electronic Engineer from Universidad Simón Bolívar – Venezuela, with a Master’s and Doctorate in Petroleum Engineering from Louisiana State University – USA; he has 14 patents and more than 35 technical publications.
SPWLA Hydrocarbon Reserves Workshop – SIG Advisor and Past Vice-President
Javier Miranda is a Senior Petrophysicist for DeGolyer and MacNaughton, a leading independent consulting firm since 1936. He works in different world-class projects related to reserves and reservoir studies around the globe. Javier has more than 24 years of industrial experience as a Petrophysicist. He started his career in PDVSA where he worked in operations, data acquisition and reservoir studies for 13 years. Then Mr. Miranda moved to BP America Inc. where he worked for five years in Gulf of Mexico projects as reservoir description and operations petrophysicist.
Javier earned a BSc from Universidad del Zulia and a MSc from the University of Texas at Austin, both in Petroleum Engineering. He also holds a Diploma in Integrated Petrophysics from the former PDVSA School of Petrophysics. On the academia, he served as Adjunct Professor and Lecturer for Formation Evaluation and Graduate Research Assistant. Javier is an active member of SPWLA, SPE, AAPG, SEG and HGS.
He is the current Director for North America for the SPWLA International. Mr. Miranda is also Advisor and former VP of the SPWLA Hydrocarbon Reserves SIG, part of the technical committee for SPWLA Symposium 2023 and the conference general chairman. He is co-founder of the SPWLA YP global group where he serves as editor for the SPWLA Today Newsletter. Mr. Miranda received the SPWLA Meritorious Service Award in 2021. Besides, Javier is past SPWLA and SPE officer in other chapters in USA and Venezuela as well as committee member for past symposiums.