Resource & Reserve Estimation
NauticAWT has been performing Reserves Certification for almost 15 years, using the Society of Petroleum Engineers Petroleum Resources Management System (SPE PRMS) 2007 guidelines.
Reserves-estimation methods are broadly classified as analogy, volumetric, and performance types. Volumetric and performance methods are the more elaborate techniques, and the main difference between the two is the type of data used (i.e., static vs. dynamic) relating to pre- and post-production phases. Compared to performance methods, volumetric techniques generally involve greater uncertainty, and the economic effect can be greater because they generally predate development planning.
The choice of methodology depends on development and production maturity, degree of reservoir heterogeneity, and the type, quality, and amount of data. Different estimation methods may yield significantly different results, and reconciliation of the differences may be difficult. If there are wide differences, application of two or more methods may reveal the need for further investigation.