Oil and gas reserve evaluation is an important component of the upstream business. If you want to determine whether to develop a reservoir, buy or sell a field, or attract investment in your company, reserve evaluation enables you to make that decision. A reserves evaluation is the process of forecasting estimated petroleum volumes, anticipated to be commercially, economically and technically recoverable from producing and planned wells in known oil and gas accumulations. Reserves evaluation is the process of forecasting the production of existing and planned wells and using these forecasts in combination with economic data to estimate monetary value. Economic analysis is part of the evaluation process and using various scenarios will enable a company prioritize opportunities based on some key performance indicators like NPV, IRR, ROR, and payout.

The challenge for new, and even experienced reserve engineers, circles around best practices in the evaluation process. While a new engineer grapples with the basics of the evaluation process like where to get started when tasked with evaluating an asset, experienced engineers want to develop a consistent, repeatable, and “reproducible” process using best practices. Some of the questions we will focus on are:

• What is an oil and gas reserve?
• How do you evaluate an asset?
• What are some of the best practices used in the industry for evaluating a property?
• How has the evaluation process changed over the years?

To answer these questions, we have put together a panel of four industry experts with over 95 years of experience.

Start off your morning each day of PHDwin Week with Jonathan Smith as he talks about the sessions for the day, interviews key players in the PHDwin ecosystem, and gives tips about how to best utilize PHDwin.

As the energy industry faces new challenges for the 21st century we are seeing a shift in the demographics of those entering into petroleum engineering programs towards more women graduates. How can these new perspectives improve what is traditionally a male dominated industry and what is the experience of someone pushing those boundries?

Panelists:

Jessica K Bird
Jessica Bird grew up in Cotton Valley, Louisiana and has been working in O&G in various capacities for 21 years. Although she never forgets her roots, she now calls Houston, Texas her home, where she works as a Sr. Engineering Technologist and Reporting Specialist with Black Stone Minerals, L.P.
Learn more about Jessica's experience with PHDwin

Katie Ramirez Shahin
Katie Shahin has been in the industry for just over two years. She graduated with a B.S in Petroleum Engineering from Texas Tech in 2019. I has worked in completion and production operations in the DJ Basin and works at Oxy's Platteville, CO office. She originally started out with Anadarko before getting bought out. She is originally from Houston, Texas.

Yogashri Pradhan
Yogashri Pradhan is a senior reservoir engineer for Endeavor Energy Resources. At Endeavor, she is involved with field development planning for unconventionals in the Midland Basin. She is the recipient of the Regional Reservoir Engineering Dynamics and Description and the Regional Service Awards in 2020. She's also the recipient of Houston Engineers Week Young Engineer of the Year representing SPE-Gulf Coast Section for 2018 and the International Young Member Outstanding Service Award from SPE in 2018. Yogashri graduated from the University of Texas with a Bachelor's in Petroleum Engineering in 2015 and received her Masters in Petroleum Engineering at Texas A&M University in 2020. She is a registered Professional Engineer in the state of Texas and New Mexico.

Susan Howes
C. Susan Howes, PE, PHR, is VP Engineering at Subsurface Consultants & Associates. A PE graduate of UT, Howes started her career at Anadarko, and worked for Chevron as Reservoir Management Consultant. Howes chairs the UT PGE Distinguished Alumni Committee, serves on UT PGE EAC, CSM PE PAB, and Girl Scouts – SJC Board of Directors.  For SPE, Howes chairs US Advisory Council, served as Regional Director for Gulf Coast N. America, received DeGolyer Distinguished Service Medal, is an Honorary Member, and was a Distinguished Lecturer for 2019-20. Howes was named 2020 Woman of Excellence by Houston Professional Women.

Start off your morning each day of PHDwin Week with Jonathan Smith as he talks about the sessions for the day, interviews key players in the PHDwin ecosystem, and gives tips about how to best utilize PHDwin.