Fellow SPE Members:
 
The February general meeting of SPE Northern China International Section for the 2012-2013 season will be held as follows:
 
Date:            Tuesday, February 26, 2013
Time:            Social time starts at 6:00pm, Meeting starts at 6:30pm
Venue:          2nd floor ballroom, Rosedale Hotel 
Speaker:      David Waldo – Lead Geoscientist, Gaffney, Cline & Associates, Baker Hughes
Topic:          Reserve and Resource Classification for Unconventional Resources
 
Please rsvp by 5:00 pm Friday, February 22nd if you plan to attend.  If you are an active SPE member please provide your membership number with your reservation. Without a valid membership number, you will be required to pay the fee at non-member price.
 
Fees:
Pre-booked Tickets:  SPE member – 150 RMB, Non-member - 300 RMB
At-the-door Tickets:  SPE member -  200 RMB, Non-member - 300 RMB
Pre-booked "Reservations" are not mandatory, but help us and our venue to ensure appropriate facilities are provided
 
Reminder: the Rosedale Hotel (北京珀丽酒店) is located one block southwest of Lido Hotel. (map attached)
 
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Reserve and Resource Classification for Unconventional Resources
 
Abstract
 
Resource assessments estimate total quantities in known and yet-to-be-discovered accumulations; resources evaluations are focused on those quantities that can potentially be recovered and marketed by commercial projects.”  When this definition for in-place volumes is applied to a conventional resource it is a relatively simple calculation that estimates the amount of hydrocarbon either gas or oil that fills the pore space of a defined reservoir unit at specified temperature and pressure conditions.  The definition of resource potential and associated reserve volumes in an unconventional reservoir is complicated by a number of factors which include, but are not limited to, the fact the gas is not only held in pore spaces or natural fractures, but also as adsorbed and absorbed volumes; the amount of hydrocarbon available is related to the mineralogy of the interval under examination. 
With billions of dollars being spent on acquiring interests in unconventional hydrocarbons it is important to understand the value of these assets.   The underlying value of unconventional oil and gas assets comes from our ability to understand the quantum of the economically producible resource and therefore to correctly classify and categorize the reserve and resource volumes. 
 
This presentation will review the developing methodology for evaluating unconventional resources.  It is emphasized that this is a topic that is evolving and as such what is presented here should not be considered the final word, but rather an attempt to better quantify an important asset class
 
Biography
        
David is a senior advisor with Gaffney, Cline and Associates in Singapore.  He has over 30 years of international experience in all aspects of petroleum exploration, with a particular focus on the creation, evaluation, and valuation of international oil and gas opportunities.  He has supervised and worked as part of exploration and development teams on both on and offshore projects in Africa, Middle and Far East, North Sea, Russia and South America. Over the past six years David has worked on multidisciplinary teams evaluating numerous shale gas and oil plays in the Americas.  David graduated with a BSc Cum Laude in Geology from Texas A&M University in 1979.  He is a member of SEG, AAPG, HGS, EAEG, and SEAPEX.