Reserve Estimate

Browse Energy can provide the clients with reserves estimates under SEC and SPE-PRMS guidelines.

We provide probabilistic or deterministic analysis and generate production forecasts utilizing numerous tools such as decline curves, material balance, dynamic reservoir models or integrated production models.

 

The followings are our key areas of expertise in the Reserves certification process.

 

Resources Assessment:

Assessment of petroleum resources, determining the true value of the assets which includes Reserves, Contingent and Prospective resources as per SPE-PRMS 2018 and SEC guidelines. Browse Energy has competent personnel who assess HCIIP Volumes by volumetric, Material balance, Type curve and Analog methods to determine Recovery factor and Recoverable volumes.

Reserves Evaluation:

Browse Energy follows prudent classification methods to estimate commercially recoverable volumes for oil and gas reservoirs, Assessing the probability of development and determining the commercial portion are classified as Proved 1P Reserves which deemed to be 90% likely to meet or exceeds using probabilistic guidelines and a high degree of certainty as per SEC approaches. It further assesses 2P and 3P reserves which are the proved, probable and possible portion of the recoverable volumes in different combinations which has a probability of meeting or exceeding 50% or 10% of the recoverable volumes as per guidelines.

 

Reserves Audit:

Browse Energy examines if appropriate methods were used to evaluate Reserves by the companies and if the estimates and assumptions are valid for that fiscal year. It examines the field/well data, all the geological and Reservoir engineering principles for the estimate and both technical and commercial aspects of the company’s reserves.

 

CRE Reporting:

A Competent Resources Estimator report is an independent technical report that gives a credible and unbiased evaluation of any oil and gas company's assets to ensure the investors / Regulators/Stock exchanges are well informed. Browse Energy has competent Reserves Estimators (CRE) who develop CRE reports under ASX and SEC requirements. It uses SPE/PRMS guidelines for ASX and SEC guidelines for US/global companies as per companies/JVP guidelines.

 

Browse Energy has experts who are experienced in the evaluation of conventional, shale and CSG oil and gas Reserves estimates which utilizes forecasting methods by DCA for boundary dominated flow, by RTA for dimensionless rate pressure solutions for evaluations and model history matching using fractured modeling/simulation approaches.

 

We understand the uncertainty in the estimation of Resources and Reserves well and prepare our estimates using appropriate combinations of Volumetrics, Material balance, performance trends and analog techniques under PRMS/SEC guidelines.

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ABOUT

We are an independent Integrated Petroleum Engineering consulting company, founded in Perth, Western Australia.  We provide the highest level of quality engineering services to meet our clients’ needs with fast turnaround and competitive pricing. 
 

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If you are interested in finding out more about our services please fill in the contact form or send us an email at:

office@browseenergy.com.au

 

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