SPE Online Education
Impact of Low or Volatile Oil Prices on Reserves and Resources Estimates
Oil price and cost estimates are important inputs into reserves and resources assessments. How do changes to oil price impact reserves assessments? The impact will depend on various factors such that a fall in oil price may increase, decrease or have no impact on reserves. Oil prices and forecasts are used differently within common classification systems such as PRMS and SEC. This webcast will outline how changes in oil price impact reserves in theory and with practical industry examples.
This webinar is categorized under the reservoir and management disciplines.
Doug Peacock is a Technical Director with Gaffney, Cline & Associates, based in Singapore. He holds a B.Sc. in Geological Sciences from Leeds University, UK, and a M.Sc. in Petroleum Geology from Imperial College, London. He has over 35 years’ experience in the oil industry in a variety of geoscience positions, during employment with service companies, operators and consultancies. He has been involved in integrated applications, 3D modelling and reserves assessments throughout his career. He was an SPE Distinguished Lecturer for 2010-2011 and a recent member of the SPE Oil and Gas Reserves Committee.
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