reu houston brochure spx

OPTIMIZE DATA USE | COMMUNICATE UNCERTAINTY CLEARLY | REDUCE COSTS & INCREASE EFFICIENCY

Randy LaFollette

Director Applied Reservoir Technology Baker Hughes

www.reu-us.com

Leslie Armentrout

Director of Engineering Atinum E&P

John Seidle

Monograph 4 Chair Society of Petroleum Evaluation Engineers (SPEE)

Phil Martin

CEO New Century Exploration

David Foulon

Director of Subsurface Developments Total E&P USA

George Vassilellis

Senior Technology Advisor, Technology Hub Repsol USA

Kieth Braaten

President and CEO GLJ Petroleum Consultants

August 11-13 Houston

Jim Harden

ASA, CPG National Valuation Leader

Hein & Associates LLP

Larry Phillips

Director Corporate Reserves and Analytics

American Energy Partners

At a Glance:

Fundamentals Master Class Tuesday 11 August

Unconventional Reserve Estimation Conference

Wednesday 12 and Thursday 13 August

Shehab Mohaghegh

Professor West Virginia University

@UnconvReserves REU Reserve Estimation Unconventionals www.reu-us.com [email protected] +1 212 537 5898 REU Houston 2015

Welcome to REU Houston 2015

1Reliably forecast your well performance

The soon to be published Monograph 4 from the Society of Petroleum Evaluation Engineer will look at assessing current methods to forecast performance of wells in unconventional reservoirs

Optimize how you communicate uncertainty in a timely and reliable manner.

Atinum Energy, Chevron and Athabasca explore best case practice on how to approach this challenge.

Better understand the geological controls on unconventional production

Repsol, Texas Tech and Midwestern State look at factors affecting how we can better understand these controls and incorporate them into modeling and well site optimization.

Explore how new workflows lead to improved efficiency and reduced cost across reserve estimation

Total E&P turn their global conventional experience towards providing insight into methodologies for booking reserves in unconventional plays from the lessons theyve learnt.

Realize the potential of your data assets to increase efficiency and reduce costs

Years of rapid production have generated a wealth of data assets which are not fully utilized. Sessions from Baker Hughes, ConocoPhillips and West Virginia University look at how you can leverage your assets for tangible results.

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Expert Speakers25+

Formal Networking

Sessions

85 Benefits of Attending REU Houston

Dear Friends and Colleagues,I am pleased to welcome you to the 5th Annual Reserves Estimation Unconventionals (REU) Summit taking place in Houston in August (11 13). Over the last 5 years we have seen the forum reach over 450 senior reserve evaluators representing numerous companies, institutions and operators as they have come together to share industry recognized practices and evolving ideas.

This year we recognize all elements of the industry are under extreme financial stress resulting in even more importance on reserves estimation and reliable production and revenue forecasting. All of these challenges are framed within an environment dedicated toward optimum well-spacing and completion plans to drive efficiencies.

With that in mind the conversations will focus on:

Leveraging the valuable data assets youve built up over the last 5 years or so to decrease costs and improve efficiency savings across all aspects of production

Identify improved workflows to maximize cross disciplinary skills and talents that are critical to reliable reserves and resources estimation

Creating defensible ranges of uncertainty necessary to deliver reliable forecasts to investors and internal strategic decision markers

Remain in compliance with SEC reporting rules while portraying your assets without resorting to unnecessary conservatism

I recommend you take advantage of this opportunity to participate within a cross disciplinary group of respected experts including geologists, geophysicists and reservoir engineers. Join me and contribute to the discussion focussed on strategic and technical solutions for dealing with the big picture challenges were all facing.

I look forward to welcoming you to the summit.

Ronald HarrellChairman EmeritusRyder Scott Company LP

of Industry Content16 Hours

Hours of Research50

30+Operators on site 2014


REU 2015 SpeakersJennifer Fitzgerald

Senior Staff Reservoir Engineer, Corporate Reserves

Anadarko

Rod Sidle

Chair of the Reserves Definition Committee Society of Petroleum Evaluation Engineers (SPEE)

Jodi Anhorn

Executive Vice President and COO

GLJ Petroleum Consultants

Leslie Armentrout

Director of Engineering

Atinum E&P

George Vassilellis

Senior Technology Advisor, Technology Hub

Repsol USA

Bill Koehn

Project Controller

Hess Corporation

Shahab Mohaghegh

Professor

West Virginia University

Randy Freeborn

Chief Research Engineer

Energy Navigator

Ronald Harrell

Chairman Emeritus (Retired 2006)

Ryder Scott Company LP

Emad Elrafie

Technology Centre Project Manager

Repsol

Yalda Barzin

Senior Reservoir Engineer

IHS

Keith Braaten

President and CEO, Vice Chairman of the SPEE (Calgary Chapter)


Trisha MacDonald



David Foulon

Director of subsurface developments

Total E&P USA

Jim Harden

ASA, CPG National Valuation Leader

Hein & Associates LLP

W. Scott Meddaugh

Robert L. Bolin Distinguished Professor of Petroleum Geology

Midwestern State University

Gary Nilson

Chief Reservoir Engineer

TransAtlantic Petroleum

Randy LaFolletteDirector, Applied Reservoir TechnologyBaker Hughes

John Seidle

Monograph 4 Chair

Society of Petroleum Evaluation Engineers (SPEE)

Mohamed Soliman

PhD PE NAI, George Livermore Chair Professor

Texas Tech University

Robert Best

Association Board Vice Chairman

The Professional Petroleum Data Management (PPDM)

Join the discussion with unconventional reservoir engineers, heads of reserves, project leaders, geologists & geophysicist on LinkedIn in the REU Reserve Estimation Unconventionals.

This was my first non SPE conference to attend but the information and experience was just as valuable if not more so.

Reservoir Engineer Southwestern Energy

Olusegun Osadiya


Total E&P

Phil Martin

CEO

New Century Exploration

Larry Phillips

Director Corporate Reserves and Analytics

American Energy Partners

Clifford Zwahlen

Reservoir Engineering Advisor

Concho Resources

Neil Basu

Geoscience Manager Eagle Ford

Pioneer Natural Resources Company


Day 1 - August 12 Speed Networking Panel Session Keynote Session Spotlight Networking

7:00 Registration opens

7:50 Chairs opening

SEC UPDATE AND RESERVE REPORTING IN THE CURRENT CLIMATE

8:00 SEC keynote presentation Lets look at the big picture trends within SEC guidelines and reserve reporting in the current climate

Leverage the experience we have gained to date and extending that to different worlds in terms of reservoirs, different geologies and different well architecture

Recognize and learn from new methodologies while going back to the engineering principles that are the basis for the original models

8:30 Understanding contingent resources in unconventional plays Classification of contingent resources by project maturity sub-class Risking contingent resources for chance of development Reclassification of contingent resources to reserves

Keith Braaten, President and CEO, GLJ Petroleum Consultants

9:00 SEC Spotlight Latest insights into what the SEC will and will not accept Illumination into what the SEC isnt concerned about Bridge the disconnect between how auditors and operators view reserves What is the approval process on new estimation approaches?

Jennifer Fitzgerald, Senior Staff Reservoir Engineer Corporate Reserves, Anadarko Petroleum Corporation

Ronald Harrell, Chairman Emeritus, Ryder Scott Company LP

Clifford Zwahlen, Reservoir Engineering Advisor, Concho Resources

Larry Phillips, Director Corporate Reserves and Analytics, American Energy Partners

9:50 Morning Refreshments and Speed Networking

The Speed Networking sessions are a great opportunity to meet the attendees you would like to have more in-depth conversations with later in the conference. This session is the ideal opportunity to get face-to-face time with many of the brightest minds working in your field.

HOW DO WE COMMUNICATE UNCERTAINTY & RISK IN A USEFUL FORMAT?

10:50 Best practice in communicating ranges of uncertainty and why the industry has struggled with this

What do we mean by accurate forecasts? Increase confidence level by applying a range of certainties to your reserve estimates What tools do we need to effectively communicate uncertainty?

Leslie Armentrout, Director of Engineering, Atinum E&P

11:20 Reducing sources of optimism in reservoir production forecasts application of lessons learned from conventional reservoirs to unconventional reservoirs

Industry major capital projects deliver only 55-75% of planned production due to optimistic subsurface assumptions

This optimistic bias can be attributed to reservoir modeling workflow decisions, well optimization workflows, sparse data bias, analog bias, and management bias

Incorporating a fuller range of uncertainty in production forecasting and reducing sources of bias, both technical and management, should improve project economics significantly.

Lessons learned from conventional reservoir projects are fully applicable to unconventional reservoir projects

W. Scott Meddaugh, Robert L. Bolin Distinguished Professor of Petroleum Geology, Midwestern State University

11:50 Panel Discussion - The importance of successfully communicating uncertainty within the current market

How can we effectively connect theory with best practice? What toolkits are available to communicate uncertainty and is there a current best

practice? How can we better leverage increasing volumes of data to ensure were answering the

right questions with the appropriate data? Leslie Armentrout, Director of Engineering, Atinum E&P

W. Scott Meddaugh, Robert L. Bolin Distinguished Professor of Petroleum Geology, Midwestern State University

12:30 Networking Lunch

HOW CAN WE BETTER UNDERSTAND THE GEOLOGICAL CONTROLS ON PRODUCTION?

13:30 How the effective analysis of geological indicators can better be used to predict performance in tight and fractured formations?

Conducting geological modeling of extensive development areas to identify key geologic performance indicators

Elaborating dynamic formation description including depletion and pressure trends to identify pressure performance drivers

What lessons can this approach give for other developments? Emad Elrafie, Technology Centre Project Manager, Repsol


14:00 Presenting a Fracturability Index (FI), a recently developed concept for identifying sweet spots in shale reservoirs

Using geomechanical principles to generate an index to optimize the placement of fractures

The potential of new fracturing methodology called Cascade Fracturing Technology A presentation of results and ramifications for cost reductions and efficiency savings

Mohamed Soliman, George Livermore Chair Professor, Texas Tech University

14:30 Panel Discussion: How do the geological controls on production differ from conventional to unconventional plays and how should this shape our thinking on shale developments?

How do we shift from conventional to unconventional thinking? Where can an increasing understanding have the biggest impact? What are the most exciting possibilities moving forward?

Emad Elrafie, Technology Centre Project Manager, Repsol Mohamed Soliman, George Livermore Chair Professor, Texas Tech University Robert Best, The Professional Petroleum Data Management (PPDM) Association Board Vice Chairman

15:10 Networking break

SHORT TERM FORECASTING METHODOLOGIES MONOGRAPH 4 SPOTLIGHT

15:40 A practical approach to well spacing optimization for maximizing reserves in unconventional reservoirs using RTA

Use both deterministic and probabilistic modeling Account for hydraulic fracture characteristics and show effect of fracture characterization on well spacing Apply to both oil and gas wells

Yalda Barzin, Senior Reservoir Engineer, IHS

16:10 SPEE Monograph 4: Estimating developed reserves in unconventional reservoirs General principles & specific examples

A brief history of the SPEE and our purpose moving forward

Understanding the role of GeoScience as a major control

How is Monograph working to identify best practise workflows?

Case studies from Bakken and Eagle Ford

John Seidle, Monograph 4 Chair, Society of Petroleum Evaluation Engineers (SPEE)


The depth of presentations were deeper than at most meetings. Content and discussion dominated.

Chevron Fellow, Team Leader - Hydrocarbon Charge, Chevron

16:40 The importance of identifying and sharing best case practice How can bodies like the SPEE help the industry to understand unconventionals? Where are the biggest challenges and areas that need work? Building on lessons learnt from case studies in Monograph 4

John Seidle (SPEE), Monograph 4 Chairman

Rod Sidle, Chair of the Reserves Definition Committee of SPEE

17:20 Chairs closing remarks

17:30 End of the Day 1


Day 2 - August 13

7:00 Registration opens and networking breakfast

7:55 Chairs opening remarks

HOW WE CAN BETTER INTEGRATE NEW WORKFLOWS INTO RESERVE ESTIMATION?

8:00 Forecasting production in unconventional: Key aspects and specificities to consider

How well do we understand the variables including the land aspects, development programs and expected individual well performances?

What is the scale of uncertainty within these building blocks?

How to control these uncertainties through integrating new workflows within an asset operational work?

David Foulon, Director of Subsurface Developments, Total E&P USA

8:40 Integration of full field eclipse reservoir simulation with 3D Seismic data

How this can aid in the location of horizontal production wells to optimize primary and secondary recovery operations

Case study in one of Turkeys largest fractured carbonate oil fields

Gary Nilson, Chief Reservoir Engineer, TransAtlantic Petroleum

9:20 Panel Discussion How can we better leverage our multidisciplinary teams to identify new workflows and solutions to reserve estimation challenges?

Optimizing infrastructure management

Giving voice to new approaches and ways of thinking

Moving beyond a conversation to practical takeaways

Gary Nilson, Chief Reservoir Engineer, TransAtlantic Petroleum

Olusegun Osadiya, Senior Reservoir Engineer, Total E&P

Phil Martin, CEO, New Century Exploration

10:00 Networking Break

FINANCIAL RAMIFICATIONS OF THE CURRENT MARKET

10:45 What factors impact how the financial sector views your assets?

What impact is the commodity price having on forecasting value with fluid service costs?

How can you add value to your assets in the eyes of stakeholders?

What features are most important when defining value

11:15 Accurate risked PUD forecasts - Monte Carlo simulation links type wells to aggregation and economics

For the best accuracy, make your type wells consistent with the wells you expect to drill

Incorporate risk into the production or economic parameters that are most relevant to your company

Properly scale your forecasts to your planned well length

Use fit for purpose type wells: a type well for reserves may not be suitable for evaluation work.

Randy Freeborn, Chief Research Engineer, Energy Navigator

11:45 Panel discussion - How does reservoir information affect the transactions market?

Why is there a disconnect in oil and gas reserves pricing?

What is the significance of reserve write downs on public or private companies?

How can we better understand what the market is telling us from transaction values compared to book values?

Bill Koehn, Project Controller, Hess Corporation

Ronald Harrell, Chairman Emeritus, Ryder Scott Company LP

Jim Harden, ASA, CPG, National Valuation Leader, Hein & Associates LLP

Larry Phillips, Director Corporate Reserves and Analytics, American Energy Partners

Speed Networking Panel Session Keynote Session Spotlight Networking

I am excited to get back to work to apply this weeks learning to my daily responsibilities and addressing my companys issues.

Director Corporate Planning and Reserves, Baytex Energy


12:30 Networking Lunch

OPTIMIZING YOUR USE OF DATA ASSETS TO INCREASE EFFICIENCY AND REDUCE COSTS

13:30 Can data mining aid in reserves estimation?

Short discussion of data mining methods

Lessons learned from modern data mining methods in unconventional reservoirs

Be careful what you compare!

Randy LaFollette Director, Applied Reservoir Technology, Baker Hughes

14:00 New refracturing opportunities on Horizontal Wells in the Eagle Ford Shale opened up by data integration

Prolonging production curves through implementing new practices

Developing new integrated workflows

Re-fracturing case study from Eagleford

Neil Basu, Geoscience Manager Eagle Ford, Pioneer Natural Resources Company

14:30 Fact-based modeling; analysis, predictive modeling & optimization of hydraulic fracturing in shale

How advanced data-driven analytics provide insight into hydraulic fracturing practices in shale

Unlike traditional modeling, advanced data-driven analytics incorporate Hard Data rather than Soft Data

Using this technology synthetic geo-mechanical well logs can be generated, impact of reservoir quality can be meaningfully assessed and contribution of completion

Shahab Mohaghegh, Professor, West Virginia University and Intelligent Solutions Inc

15:00 Networking break

ADDRESSING INFRASTRUCTURAL CHALLENGES

15:30 Optimizing well spacing through use of analytical modeling of the

geomechanical impacts of stimulating and producing naturally fractured and right oil & gas formations

Integrating flow models of injection and production to increase the reliability of unconventional reservoir models

Examining the ability to model optimal well spacing, timing and operating conditions to optimize operations in unconventional resources

Validating flowback and early production observations to increase the accuracy of unconventional resources models

George Vassilellis, Senior Technology Advisor, Technology Hub, Repsol USA

16:00 Panel discussion: Where is the greatest potential to optimize infrastructural operations to maximize returns of existing plays?

Putting data operation systems into practice for demonstrating benefits

Breaking down cross departmental barriers to understand data

Where should the focus in capital expenditure currently be?

George Vassilellis, Senior Technology Advisor, Technology Hub, Repsol USA

Shahab Mohaghegh, Professor, West Virginia University and Intelligent Solutions Inc

Randy LaFollette, Director, Applied Reservoir Technology, Baker Hughes

Anton Wroblewski, Senior Geologist, ConocoPhillips

16:50 Chairs closing remarks

17:00 End of the day


Fantastic forum with open discussion amongt various industry peers for establishing best practices in reserves estimation.

Corporate Reservoir Engineer, Range Resources


Understanding the Fundamentals of Reserve Estimation in Unconventional PlaysDate: Tuesday, August 11 2015 Time: 09:00 - 16:00

Working closely with GLJ, this one-day workshop is an exciting opportunity to develop the skills and understanding needed to forecast production and estimate reserves in unconventional oil and gas reservoirs. Through intensive sessions and an expert panel of current clients, your questions will be answered and you will walk away with the very latest thinking on forecasting production and estimating reserves.

Who should attend?

This is a workshop for engineers, geoscientists and others involved in contingent resources and reserve estimation who are interested in benchmarking their knowledge of evaluating unconventional reservoirs against the industry leaders in the field.

It serves as an excellent foundation to update on the theory before going on to discuss these themes in the main conference.

What type of themes will be covered?

Forecasting Production

EUR forecasts using decline curve analysis. Are they reliable?

How evolving completions are incorporated into type curve forecasts

Learn the strengths and weaknesses of both common and emerging approaches to forecasting production and estimating reserves in unconventional reservoirs

Estimated Ultimate Recovery

How geostatistical correlations and variograms can help estimate EUR and build type curves.

What are the Geological considerations: to type curves, EURs and GIIP/OOIP?

How can big data analysis and trendology help/mislead your evaluation?

This course will contain new material and the very latest thinking on forecasting production and estimating reserves. Place numbers are limited to ensure the ratio between class size and contact time with GLJ is as valuable as possible.

Fundamentals Master Class

Trisha MacDonald



Jodi Anhorn

Executive Vice President and COO


Success in unconventional reserve estimation is based on team work with multiple disciplines working in harmony towards a common goal. Since 2011, the REU Community has continued to grow to over 2000 members and brings together NOCs, major and independent E&Ps, academics and innovative solution providers.

The twice annual summits are the physical manifestation of the communities year round work. For each its our mission to carefully design each summit through extensive research and tailor them to the individual needs of the REU Oil & Gas reserves community at the specific time.

Not only does this give you access to hot topic case studies from the key operators in the field. But it also facilitates group problem solving around the key challenges operators are battling with today.

REU Community

Our vision for the REU series in 2015 is to go back to basics. As operators in particular turn inwards, we will provide the latest insights into tangible methods of reducing costs and driving efficiency through embracing integration and technological innovation.

2015 is about doing more with less and laying solid foundations for future growth.

Events

Reservoir engineers & managers

Geophysicists and Petrophysicists

Geologists

Solution Providers

Community Breakdown

60%

15%

15%

10%

Members in 2014

Excellent speaker list, worthwhile number of attendees, good networking opportunity.

Talisman

Useful to meet experts and those approaching a difficult, vital problem in a multitude of ways.

Jones Energy

REU Houston 2015

Community Attendance by

Profession


Find out moreLiam WedderburnCommercial ManagerTel: +44 (0)203 141 8783Email: [email protected]

GLJ Petroleum ConsultantsOur clients rely upon our Independent Geological and Engineering Services and we have worked hard over the last 4 decades to earn our sterling reputation. Everything we do incorporates rigorous technical workflow along with expert application of the definitions.

www.gljpc.com

REU Houston 2015 Partners

Energy NavigatorWe provide industry leading asset management workflow solutions that help the oil and gas industry make better decisions. Consistent, accurate forecasts can be quickly achieved with Value Navigator.

www.energynavigator.com

IHSIHS is a leading provider of reservoir and production engineering software tools. IHS has evaluated hundreds of unconventional wells to develop best practices and software tools for unconventional well performance evaluation. IHS provides the energy industry with information, insight, and analytics to accelerate decision-making across the asset team workflow.

Customers rely on IHS to develop strategies with speed and confidence.

Why Partner?

Strengthen your position in the market

Generate new business

Host existing and potential clients during key networking times

Network with key decision makers

Showcase your products and achievements

Be seen as a thought leader in the Oil & Gas space

reu houston brochure spx

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