Room Number: TBA

Note: Meals are not guaranteed for individuals who register on the day of the event.

Abstract for Phases of Late-life and Orphan Wells: Planning, Paying, Plugging

For most wells and most companies, the end of well life is within the planning horizon. Already half of the wells in the country stand idle, and about 80% of active wells are stripper wells. Meeting statutory obligations can require funds from the last 10 to 15 years.  Mr. Purvis explores the surprising economic realities and what you can do about it.

Learning objectives:

●     How decommissioning costs affect cash flow projections and financial reports,

●     Options and probabilities for alternative uses of existing wellbores, and

●     A concrete, step-wise action plan to meet as much of the obligation as possible.

Biography for Dwayne Purvis

Dwayne has been a reservoir engineer, entrepreneur, trainer, and executive in the oil industry for 29 years.  He has led or participated in hundreds of engineering studies over dozens of basins in the United States and abroad, and he has participated in the sale or acquisition of projects valued from tens of thousands to billions of dollars. He has been a partner at a third-party engineering firm, reservoir engineering manager for a large private oil company, expert witness in litigation cases, and founder/manager of two small oil companies.  He has created and taught engineering courses for professional societies and private training organizations, and he currently serves as a Distinguished Lecturer for the Society of Petroleum Engineers.  Originally trained as a petroleum engineer, Mr. Purvis recently earned a masters degree in sustainable energy from Johns Hopkins University, and his current consulting work focuses on the decarbonization and transformation of the oil industry.