New York Sub-chapter of US Chapter Event "Petroleum Reserves and Resources: Defining Challenges and Opportunities"

New York Sub-chapter of US Chapter Event "Petroleum Reserves and Resources: Defining Challenges and Opportunities"

11:30 a.m. - 1:30 p.m. Thursday, October 25, 2018

 Chaffetz Lindsey LLP | 1700 Broadway, 33rd Floor, New York, NY 77002

Rawdon Seager, Technical Director, Reserves and Quality Control, Gaffney, Cline & Associates

Join the New York Sub-chapter of the US Chapter for "Petroleum Reserves and Resources: Defining Challenges and Opportunities." The luncheon will feature a discussion on the unique challenges and opportunities related to the definition and classification of petroleum reserves and resources. Topics to be covered include:

- Industry-standard reserves and resources definitions—Petroleum Resources Management System (PRMS) and SEC
   - What are reserves and resources and what are the key differences between them?
   - A very brief review of the similarities and differences between the PRMS and the SEC definitions
   - The importance of defining a project
   - Assessing and communicating risk and uncertainty
- The key changes made with the introduction of the PRMS 2018 update
- 
High-level review of valuation approaches for oil and gas assets
   - Income method (NPV, EMV), comparable transactions
   - Exploration, through developed, to mature assets

Registration is $25 for members, $50 for non-members, and complimentary for students. Please register online by October 22, as space is limited.

Special thanks to event-sponsors: