ABSTRACT

Confidence in publicly disclosed Reserves and Resources is critical to the investment community and the SPE-PRMS reputation.  Surveys [McMillan (2014)] have indicated a perception that the SPE-PRMS treats Conventional and Unconventional resources differently.  This is discussed in detail with an explanation of the confusion caused by these differences.

A method for rating confidence in publicly disclosed reserves, Reserve Confidence Metric [RCM], is presented and as an example, RCM is applied to Queensland’s publicly disclosed 2P reserves for all conventional and unconventional [CSG] resources.

Applying RCM should assist decision making for organisations or individuals who use publicly disclosed Reserves reports.

McMillan, D. (2014). Techbits.  Journal of Petroleum Technology, Volume 66, Number 4, page 38 [Click here for a copy],

BIOGRAPHY 

Don is Chartered Petroleum Engineer, a member of the SPE, Fellow of The Institute of Engineers Australia and has worked in the Oil & Gas industry for over 30 years.  For the past decade Don has consulted on over 100 projects for 50 companies in Australia, Asia and Europe.

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