Conference Day Two | Thursday June 20, 2019

8.30 Chair’s Welcome Back

Shadi Salahshoor,
Reservoir Engineer,
89 Energy

David Fulford,
Staff Reservoir
Engineer,
Apache Corporation

8.40

Audience Discussion: Leveraging Advanced Data Analytics Technology to Improve Estimation Workflows

Introductory Presentation: How do we merge machine learning and physics-based models?

Group discussion:

• Progress made towards incorporating big data and machine learning workflows that maintain grounding in physical principles
• Moving beyond judgement-oriented estimation towards techniques based on RTA models
• Managing inclusion of new key variables: validating that changes to the forecast are real

David Pacinda
President
PHDWin

9.30

Achieving Better Economic Forecasts in Shale Resource Projects
Integrating data visualization and reservoir flow regimes to create more representative type cases

  • Applying true wedge economics to offer better insight in case improvements
  • Leveraging economic hurdles and automated group economic limit calculations to better emulate true pad economics
  • Incorporating qualified economics allow for varying economic scenarios

10.00 Morning Refreshments

David Fulford,
Staff Reservoir
Engineer,
Apache
Corporation

10.30

Case Study: Implementing Machine Learning to Build Automated Auto-Forecasting Tools

• Leveraging batch analysis of decline curves for rapid calibration, quality control and resource efficiency
• Developing automatic multi-variate analysis techniques to increase efficiency while maintaining the accuracy of human oversight
• Minimizing new data update time while maintaining accuracy of machine learning models

Randy
Freeborn,
Principal Industry
Advisor,
Aucerna

11.10

How to Forecast Multi-Fractured Horizontal Unconventional Wells

• Deliver your production and profit promise - avoid forecast errors by paying attention to flow regimes
• Log-log plots of rate-time or rate-mbt yield different linear flow periods: why, and which is right?
• Discover the adjustments that make the modified hyperbolic equation perfectly suited to unconventional wells
• See a step-by-step method to reliably forecast unconventional wells
• There is an easy way to detect bad data

11.40 Lunch

Manoj
Devashish,
Director,
Citigroup

John Schweer,
Head of
Petroleum
Engineering,
Wells Fargo

12.40

Reconciling Forecasts with Bookings to Optimize Investment Opportunities: A Bank’s Perspective

• Understanding recent M&A market activity and recognizing recent macroscopic trends in public companies and private equity groups
• Reconciling the difference between booked reserves and company valuation
• Moving towards long-term production history forecasting: booking reserves beyond the first six months of operations

Larry Tharp,
Managing
Director
& Chief
Engineer,
GSO Capital
Partners

1.20

Qualifying the Importance of Reserves to Investors in Oil & Gas Projects

• Exploring the cases where proved reserves don’t matter, and what investors care about instead
• Implementing a data-driven approach to analysis of public half-cycle investor relations presentations
• Responding to perceptions of the investment community while considering the inherent uncertainty of reserves

Rod Sidle,
Executive
Consultant,
Aucerna

2.00

SPE PRMS 2018 Update: Preparing for Changes Impacting Unconventional Resources

• Defining new terminology introduced in 2018
• Interpreting new guidance, including on application of the “5-year rule” to probable and possible reserves
• Clarifying prior guidance on 2007 PRMS content, such as the difference between “economic” and “commercial” as applied to reserves

2.30 Afternoon Refreshments

Richard Cao,
Staff Reservoir
Engineer,
Shell

3.00

Moving from Deterministic to Stochastic Approaches for Development of Unconventional Reservoirs

• Recognizing how the probabilistic nature of reserves estimation precludes single-answer or deterministic results from being accurate
• Understanding which estimation variables are randomly distributed and the impacts of this outcome distribution
• Implementing a stochastic approach in evaluations and decision-making for development of unconventional reservoirs

Jennifer
Fitzgerald,
Corporate
Reserves QA/QC
Manager,
Anadarko
Petroleum
Corporation

3.40

Rethinking an Industry Best Practice: Lessons Being Learned from Monograph 5 (Type Well Profiles)

• Update on current efforts by SPEE to develop industry best practice related to development of Type Well Profiles
• Reviewing the Type Well Profile workflow, highlighting key specific elements
• Integrating new workflows or industry best practices: key considerations

4.20 Chair’s Closing Remarks

4.30 Close of Day Two