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Commercial vs Economic

With the 2018 update to PRMS, the evolution of this important document continues with clarifications of existing terms and concepts as well as introductions of new terms.  One constant has been the requirement of “commerciality” as an element of reserves.  To ensure PRMS users distinguish “commercial”  from “economic”, this online training course explains both terms. Also, related terms, like “economic limit”, are explained along with some FAQs on economic topics.

Rod Sidle

Independent Consultant

Mr. Sidle is an independent consultant serving training provider PetroSkills, software provider Aucerna and other oil and gas industry clients. His industry experience, including 35 years with Shell Oil Company/Royal Dutch Shell, has primarily been in reservoir engineering and economics with a focus on reserves estimation. Rod is a member of the Society of Petroleum Evaluation Engineers (SPEE), where he is currently the Chair of the Reserves Definition Committee, and a former member of the Board of Directors. He is also a member of SPE and previously served as SPE Distinguished Lecturer and member of the SPE Oil and Gas Reserves Committee (OGRC). Since retiring from Shell, Rod has worked as a lecturer on project evaluation at Texas A&M University in the Petroleum Engineering Department; a Director of Reserves at Occidental Oil and Gas Corporation; and the Reserves Manager for Sheridan Production Company, a privately funded oil and gas producer.  He has co-authored seven SPE papers, primarily on reserves related topics.

.1 CEUs and 1 PDHs offered.

Members : USD 25.00

Non-members : USD 50.00


Commercial vs Economic
Open to view video.
Open to view video.
1.00 CEU/1PDH credit  |  Certificate available
1.00 CEU/1PDH credit  |  Certificate available