August 11-13

Houston
At a Glance:
Fundamentals Master Class

Tuesday 11 August

Unconventional Reserve
Estimation Conference

Wednesday 12 and Thursday 13 August

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

John Seidle

David Foulon

Kieth Braaten

George Vassilellis

Director of Engineering
Atinum E&P

Monograph 4 Chair
Society of Petroleum
Evaluation Engineers
(SPEE)

Director of Subsurface
Developments
Total E&P USA

President and CEO

GLJ Petroleum
Consultants

Senior Technology
Advisor, Technology Hub
Repsol USA

Randy LaFollette

Shehab Mohaghegh

Phil Martin

Larry Phillips

Jim Harden

Director Applied
Reservoir Technology
Baker Hughes

Professor
West Virginia University

CEO
New Century
Exploration

Director Corporate Reserves

and Analytics

ASA, CPG National

Valuation Leader

American Energy Partners

Hein & Associates LLP

www.reu-us.com

Welcome to REU Houston 2015

25+

Expert Speakers

16
Hours
of Industry Content

50

Hours of
Research

8
Formal
Networking
Sessions

30+
Operators on site 2014

@UnconvReserves

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.

5 Benefits of Attending
REU Houston
1

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 Harrell
Chairman Emeritus
Ryder Scott Company LP

REU Reserve Estimation Unconventionals

www.reu-us.com

info@hansonwade.com

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.

With that in mind the conversations will focus on:

Reliably forecast your well performance

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.

+1 212 537 5898

REU Houston 2015

REU 2015 Speakers

Ronald Harrell

Jennifer Fitzgerald

Leslie Armentrout

Randy Freeborn

Emad Elrafie

Chairman Emeritus
(Retired 2006)

Senior Staff Reservoir

Engineer, Corporate Reserves

Director of Engineering

Chief Research Engineer

Atinum E&P

Energy Navigator

Technology Centre
Project Manager

Ryder Scott
Company LP

Anadarko

Mohamed Soliman

Robert Best

Yalda Barzin

John Seidle

Rod Sidle

PhD PE NAI, George

Livermore Chair
Professor

Association Board Vice

Chairman

Senior Reservoir Engineer

Monograph 4 Chair

IHS

Society of Petroleum
Evaluation Engineers
(SPEE)

Chair of the Reserves

Definition Committee
Society of Petroleum
Evaluation Engineers
(SPEE)

Jim Harden

Bill Koehn

Keith Braaten

Olusegun Osadiya

ASA, CPG
National Valuation Leader

Project Controller

President and CEO, Vice

Chairman of the SPEE
(Calgary Chapter)

Senior Reservoir
Engineer

Texas Tech University

David Foulon
Director of subsurface
developments
Total E&P USA
Randy LaFollette
Director, Applied
Reservoir Technology
Baker Hughes

Repsol

The Professional Petroleum

Data Management (PPDM)

Hein & Associates LLP

Hess Corporation

GLJ Petroleum Consultants

Total E&P

Trisha MacDonald

George Vassilellis

Shahab Mohaghegh

W. Scott Meddaugh

Senior Reservoir
Engineer

Senior Technology Advisor,

Technology Hub

Professor

GLJ Petroleum
Consultants

Repsol USA

Robert L. Bolin
Distinguished Professor
of Petroleum Geology

Gary Nilson

Jodi Anhorn

Phil Martin

Larry Phillips

Chief Reservoir Engineer

Executive Vice
President and COO

CEO

Director Corporate
Reserves and Analytics

TransAtlantic Petroleum

West Virginia University

Midwestern State
University

New Century Exploration

GLJ Petroleum
Consultants

American Energy
Partners

Clifford Zwahlen
Reservoir Engineering
Advisor
Concho Resources

Neil Basu
Geoscience Manager
Eagle Ford
Pioneer Natural
Resources Company

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

@UnconvReserves

REU Reserve Estimation Unconventionals

www.reu-us.com

Join the discussion with unconventional

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

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

Day 1 - August 12
7:00

Registration opens

7:50

Chairs opening

Speed Networking

11:20

Keynote Session

Spotlight Networking

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

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

11:50

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

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?

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.

13:30

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

@UnconvReserves

Panel Session

REU Reserve Estimation Unconventionals

www.reu-us.com

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

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

Day 1 - August 12
14:00

Speed Networking

Panel Session

Keynote Session

Spotlight Networking

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

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

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

14:30

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

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

Chevron Fellow, Team Leader Hydrocarbon Charge, Chevron

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

@UnconvReserves

REU Reserve Estimation Unconventionals

www.reu-us.com

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

Day 2 - August 13
7:00

Registration opens and networking breakfast

7:55

Chairs opening remarks

Speed Networking

11:15

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

11:45

Keynote Session

Spotlight Networking

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

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

I am excited to get back to work to apply this

weeks learning to my daily responsibilities and
addressing my companys issues.

Gary Nilson, Chief Reservoir Engineer, TransAtlantic Petroleum

Olusegun Osadiya, Senior Reservoir Engineer, Total E&P
Phil Martin, CEO, New Century Exploration
10:00

Panel Session

Director Corporate Planning and Reserves, Baytex Energy

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

@UnconvReserves

REU Reserve Estimation Unconventionals

www.reu-us.com

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

Day 2 - August 13
12:30

Speed Networking

Networking Lunch

15:00

Optimizing well spacing through use of analytical modeling of the

Short discussion of data mining methods

Lessons learned from modern data mining methods in unconventional reservoirs

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

Be careful what you compare!

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

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?

Fact-based modeling; analysis, predictive modeling & optimization of hydraulic

fracturing in shale

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?

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

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

Unlike traditional modeling, advanced data-driven analytics incorporate

Hard Data rather than Soft Data

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

ADDRESSING INFRASTRUCTURAL CHALLENGES

15:30

Randy LaFollette Director, Applied Reservoir Technology, Baker Hughes

14:30

Spotlight Networking

Can data mining aid in reserves estimation?

Keynote Session

Networking break

OPTIMIZING YOUR USE OF DATA ASSETS TO INCREASE EFFICIENCY AND REDUCE COSTS
13:30

Panel Session

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

Fantastic forum with open discussion amongt

various industry peers for establishing best
practices in reserves estimation.
Corporate Reservoir Engineer, Range Resources

@UnconvReserves

REU Reserve Estimation Unconventionals

www.reu-us.com

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

Fundamentals Master Class

Understanding the Fundamentals of Reserve Estimation in Unconventional Plays
Date: 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.

Trisha MacDonald
Senior Reservoir Engineer
GLJ Petroleum Consultants

@UnconvReserves

REU Reserve Estimation Unconventionals

Jodi Anhorn
Executive Vice President and COO
GLJ Petroleum Consultants

www.reu-us.com

info@hansonwade.com

+1 212 537 5898

REU Houston 2015

REU Community

Community Breakdown

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.

10%
Reservoir engineers & managers

15%
Community
Attendance by
Profession

60%

15%

Geophysicists and Petrophysicists

Geologists
Solution Providers

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.

Events

Members in 2014

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.

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

2015 is about doing more with less and

laying solid foundations for future growth.

REU Houston 2015

REU Houston 2015 Partners

Why Partner?
Host existing
and potential
clients during key
networking
times

Strengthen your
position in the market

GLJ Petroleum Consultants

Our 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

Network with key

decision makers

Generate new
business

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

IHS
IHS 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.

@UnconvReserves

REU Reserve Estimation Unconventionals

Showcase your
products and
achievements

Find out more

Liam Wedderburn
Commercial Manager
Tel: +44 (0)203 141 8783
Email: Liam.Wedderburn@hansonwade.com

www.reu-us.com

info@hansonwade.com

+1 212 537 5898

REU Houston 2015