Oil and gas reserves form the main assets of an oil company and must be quantified, though this estimation is complex due to limited data and varying interpretations. Reserves are estimated throughout exploration, development, and production. Proven reserves are those recoverable under current conditions with reasonable certainty, including developed reserves from existing wells and undeveloped from future wells. Unproven reserves like probable and possible have uncertainties preventing proven classification but are still likely recoverable. Ultimate reserves equal proven, probable, and possible. Estimation considers available data and analogies, using volumetric calculations or performance methods like material balance, decline curve analysis, and reservoir simulation.
Oil and gas reserves form the main assets of an oil company and must be quantified, though this estimation is complex due to limited data and varying interpretations. Reserves are estimated throughout exploration, development, and production. Proven reserves are those recoverable under current conditions with reasonable certainty, including developed reserves from existing wells and undeveloped from future wells. Unproven reserves like probable and possible have uncertainties preventing proven classification but are still likely recoverable. Ultimate reserves equal proven, probable, and possible. Estimation considers available data and analogies, using volumetric calculations or performance methods like material balance, decline curve analysis, and reservoir simulation.
Original Description:
Techniques required to measure the amount of existing HC in the reservoir.
Oil and gas reserves form the main assets of an oil company and must be quantified, though this estimation is complex due to limited data and varying interpretations. Reserves are estimated throughout exploration, development, and production. Proven reserves are those recoverable under current conditions with reasonable certainty, including developed reserves from existing wells and undeveloped from future wells. Unproven reserves like probable and possible have uncertainties preventing proven classification but are still likely recoverable. Ultimate reserves equal proven, probable, and possible. Estimation considers available data and analogies, using volumetric calculations or performance methods like material balance, decline curve analysis, and reservoir simulation.
Oil and gas reserves form the main assets of an oil company and must be quantified, though this estimation is complex due to limited data and varying interpretations. Reserves are estimated throughout exploration, development, and production. Proven reserves are those recoverable under current conditions with reasonable certainty, including developed reserves from existing wells and undeveloped from future wells. Unproven reserves like probable and possible have uncertainties preventing proven classification but are still likely recoverable. Ultimate reserves equal proven, probable, and possible. Estimation considers available data and analogies, using volumetric calculations or performance methods like material balance, decline curve analysis, and reservoir simulation.
The volumes of crude oil, natural gas, and associated
products that can be recovered profitably in the future from subsurface reservoirs
The amount of capital
retained to meet probable future demands
Those quantities of petroleum which are
anticipated to be commercially recovered & marketable from known accumulations from a given date forward. 2
7/25/2013
Oil and gas reserves form an oil companys main assets!
It is i very important i t t to t quantify tif forms f off reserves. Quantifying of reserves is a complex problem! limited data varying interpretation Reserve estimation It is an on-going activity during exploration, development planning, and during production. 3
Proven reserves: Di Discovered d reserves that th t can b be estimated ti t d with ith reasonable bl certainty t i t to be recoverable under current economic conditions, technical conditions and government regulations. The proven reserves is further classified into the following: 1.
Developed reserves are expected to be recovered
from existing wells
2.
Undeveloped reserves are to be recovered from
new wells in undrilled acreage, deepening wells to different reservoirs 4
7/25/2013
Unproven reserves: Those reserves that are based on data similar to that used in the estimation of proven reserves but technical, contractual, economic or regulatory uncertainties prevent these reserves from being classified as proven. The unproven reserves can also be divided into the following: 1. Probable reserves: More likely than not to be recovered Have a reasonable probability of production with technology and profitability close to those exist today. 2. Possible reserve: Less likely than likely to be recovered It is presumed with reasonable degree of probability.
ULTIMATE RESERVES = proven + probable + possible.
5
Considerations for proven reserve:
Significant data are available, particularly fluid production and reservoir pressure data, and the reservoir drive is known. Production and reservoir data are limited but the reservoir is analogous to reservoirs in the immediate vicinity and same geologic horizon. Where production and reservoir data are limited, but the estimate is supported by a calculation of the hydrocarbons in place by the volumetric method.
Considerations for probable or possible reserve:
Where significant production data are available, but the reservoir drive mechanism is uncertain or the magnitude of the reservoir drive is uncertain. Where production and reservoir data are limited and there are no analogus reservoirs in the immediate vicinity. Where production and reservoir data are limited and the estimate is not supported by volumetric determinations. 6
7/25/2013
1. Volumetric Reserves Calculation
The well is drilled and log and drainage area data must be available with ith th the subsurface b f contour t map
2. Performance-Based Reserves Calculation
It is based on the existing producing wells performance a. Material Balance Equation b. Decline Curved Analysis c. Reservoir Simulation
