Workshop A

9.00-12.00

A Practical Guide to Overcoming the Most Common Barriers to Reliable Production Forecasts in Unconventional Wells

With thousands of wells producing less than forecast, we have a significant challenge on our hands to regain credibility and increase the reliability of our production forecasts. In order to tackle that challenge, we need to examine in detail the cultural, theoretical and technical practices which have led to overestimates in the past, and ensure that these flawed approaches to forecasting don’t form part of our current (and future) approaches to reserves evaluation and production forecasting.

This part of the workshop will address:

  • Deconstructing the three most common practices which led to overestimates in the
    past and ensuring they have no role in the future
  • What are the practices which are delivering the most reliable estimates in the
    industry today and how can you apply them in practice
  • How can you better understand the geophysical, technical and operational
    circumstances that lead to wells performing or underperforming?

Allowing you to leave able to:

  • Apply the very latest practical thinking working today to increase the reliability of your short, medium and long-term production forecasts
  • Triangulate the practices currently being applied with the most success in the industry and apply this best practice in your own production forecasts
  • Walk away with a comprehensive guide to the latest techniques you need to apply to improve the reliability of your own well production forecasts

 

Workshop Leader:

John Lee, Professor of Petroleum, Texas A&M University - JPEG

John Lee
Professor of Petroleum Engineering
Texas A&M University

Workshop B

1.00-4.00

Rethinking Our Approach to Parent-Child Relationships, Well Spacing & Field Development Planning to Maximize EUR

We know that avoiding inter-well interference between parent wells and newly drilled and fractured child wells during infill development is one of the most significant challenges we face in today’s unconventional operating environment. So how can the latest thinking and experience in the field inform our approach to better take into account parent-child relationships in unconventional wells and allow us to make more reliable production forecasts and better development decisions?

This part of the workshop will address:

  • What do we now know about parent-child relationships that we didn’t know before and how can we apply this to allow us to increase forecast reliability?
  • How can production performance changes due to the interaction between parent and child wells be more effectively modeled?
  • A new approach to evaluating and minimizing parent-child well communication to allow you to make better development decisions

Allowing you to leave able to:

  • Apply the very latest industry thinking around parent-child relationships, well spacing and field development planning to maximize EUR
  • Use a new approach to quantifying the risk of frac hits to help make better field development planning decisions on the fly
  • Understand how to mitigate child well underperformance and reduce negative interference between parent-child well fractures

Workshop Leader:

John Lee, Professor of Petroleum, Texas A&M University - JPEG

John Lee
Professor of Petroleum Engineering
Texas A&M University

Workshop C

9.00-12.00

A Practical Guide to Applying the Latest SEC Definitions & Disclosure Guidelines to Increase the Reliability of Your Reserves Reporting

It is business-critical for companies to have an in-depth understanding of a) the disclosure requirements for reserves set by the SEC, b) the practical application of the guidance provided, and c) an awareness of how the application of this guidance has evolved in the past and may evolve in the future. The use of new technologies and approaches companies are deploying to evaluate current, and identify new reserves is increasing, in-depth dialogue around this vital issue is becoming more crucial.

This workshop will address:

  • An in-depth review of the latest SEC reserves and resources definitions and how they should – and shouldn’t – be interpreted in practice
  • What is the latest SEC guidance available regarding reserves reporting requirements and what are the implications for 2020 filing?
  • Find out more about the latest SEC enforcement priorities and key learnings from 2019 along with how that’s expected to influence 2020 and beyond

Allowing you to leave able to:

  • Have a deeper understanding of SEC definitions to improve the quality and reliability of your reserves reporting and abide by guidelines to avoid errors
  • Benefit from an in-depth two-way dialogue with the regulators to ensure you have had the chance to ask your specific questions and get more clarity moving forward
  • Improve internal controls to avoid violating reports on reserves estimation and overcome further challenges that must be understood to prevent common errors

Workshop Leader:

Dee Raibourn
Attorney
Securities & Exchange Commission

Workshop D

1.00-4.00

A Practical Guide to the Application of Monograph 5 to Reduce Uncertainty in Estimating & Forecasting Type Well Profiles

Recurrent problems in reserves estimation and evaluation of  unconventional reserves has led to many new methodologies and techniques being used. Despite this, achieving reliable estimation remains inconsistent. The SPEE guidelines addressed in Monograph
3, 4 and 5 offer an improved understanding of unconventional reserves estimations, helping to mitigate the problems associated with unreliable reserves forecasting.

The workshop will address:

  • Fundamental background information and clarifications on Monograph 3 and 4
  • A review of the application of Monograph 3 and 4, and an evaluation on its effectiveness in improving proved reserves
  • An in-depth progress report and early application of Monograph 5, and looking at the lessons being learned on Type Well Profiles

Allowing you to leave able to:

  • A thorough understanding of the Monograph 3 methodology used to extend PUD location beyond immediate offsets
  • A greater understanding of the current methods to forecast performance of wells given different reservoir types, different completions and different well maturities assessed in Monograph 4
  • A further interpretation on the proper methods of constructing Type Well Profiles that Monograph 5 recommends to prevent over-optimization

Workshop Leader:

GaryGonzenbach(2020)-DSC00282_WEB

Gary Gonzenbach
Chair of Monograph 5 Committee
Society of Petroleum Evaluation Engineers