International SG: International Expectations for Reserves and Due Diligence Reports

Speaker: Andy Kirchin
Speaker Andy Kirchin
Andy Kirchin is the Executive Vice President in charge of RPS Group’s Houston upstream consulting and training services. RPS brought Andy to Houston in 2011 to help grow their U.S. consulting business and facilitate an effective exchange of skills between their international offices. Before moving to the U.S., Andy was ...

Andy Kirchin is the Executive Vice President in charge of RPS Group’s Houston upstream consulting and training services. RPS brought Andy to Houston in 2011 to help grow their U.S. consulting business and facilitate an effective exchange of skills between their international offices. Before moving to the U.S., Andy was the Operational Director in charge of RPS Group’s City of London office, providing integrated geoscience, engineering, and commercial analysis of oil & gas properties internationally. He has more than 29 years of industry experience and, as one of the Principal Consultants at RPS Energy, Andy has conducted numerous expert roles both in Unitization/ Redetermination disputes and in the Valuations/ Certification/ CPR arena, providing advice on reserves assignment within the confines of multiple regulatory bodies. Andy has worked on projects in many of the world’s oil & gas regions on both conventional and unconventional plays. He is a geophysicist by training but has broad experience in dealing with the technical and commercial aspects of the upstream sector.

Full Description

Upon my arrival in the US in 2011, I ran into one of the more troublesome issues within the world of Reserves and Valuation: what do we mean when we say we are assessing “Proved” reserves? The International Standard for the classification and categorization of reserves and resources is the “Petroleum Resources Management System” (or ‘PRMS’) promulgated by the SPE, AAPG, SPEE, WPC, and SEG in 2007 with further guidelines published in 2011.

This talk will address the confusion that exists around the term “Proved” and attendees will learn how the PRMS defines the term. Attendees will also learn how international operators should consider the uncertainty associated with a development plan and how to value “Contingent Resources” as defined by the PRMS.

Organizer International Study Group
The International Study Group's mission is to provide a forum for the Houston area SPE membership to share information on business practices and considerations, projects, and technological applications significant to the worldwide oil and gas industry. The ISG will collaborate with other Gulf Coast Section study groups to ensure maximum ...

The International Study Group's mission is to provide a forum for the Houston area SPE membership to share information on business practices and considerations, projects, and technological applications significant to the worldwide oil and gas industry. The ISG will collaborate with other Gulf Coast Section study groups to ensure maximum value to the section, which is located in one of the leading international centers for the industry.


For additional information regarding this event, please contact:


SPE-GCS ISG Chairperson: Mary-Beth Snodgrass at mbs@localcontenect.com.#0066cc;">mbs@localcontenect.com.>

Full Description

When?

Tue, Oct. 25, 2016
11:30 a.m. - 1 p.m. US/Central

How Much?

A $5 donation for the SPE-GCS Scholarship Fund has automatically been added to the registration fee. Use OptOut in the Discount Code field if you do not wish to donate at this time.
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Where?

The Petroleum Club of Houston, 35th Floor, Total Plaza
1201 Louisiana Street
Houston, Texas 77002
United States

 Located on the top floor of 1201 Louisiana Street. This event will take place in the Aramco Room.


 

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