Abstract & Other Pertinent Information:
Monograph 5 presents a comprehensive technical analysis of Type Well Profiles (TWPs), including preparation, use, uncertainty analysis, recognition and management of bias, documentation, and validation. The monograph provides an in-depth analysis and comparison of two TWP construction methods: the production averaging method and the parameterization method.
While TWPs have been used in the industry for decades, there are ways in which TWPs can be improperly generated and/or the results of those TWPs can be misapplied for the intended purpose. Published TWPs frequently fail to adequately disclose important aspects of the construction methodology or the quality and quantity of the underlying data. Furthermore, uncertainty is inherent within TWPs. Monograph 5 investigates this uncertainty, identifying key sources and setting out robust methods to quantify the impact. Validation using hind-casting techniques can provide valuable feedback to evaluators preparing and using TWPs, provided that inherent uncertainty is considered. These issues are examined in detail within Monograph 5, with recommended practices subsequently presented for consideration.
This two-day immersion course will provide a comprehensive review of Monograph 5, including concepts and workflows for generation, uncertainty assessment, documentation, and validation of TWPs. Additionally, participants will engage in several examples using a series of provided spreadsheets to illustrate the execution of several key Monograph 5 workflows.
Reminders: The immersion course is a two-day in-person course. Please remember to bring your laptop. The course includes interactive examples that we will be covering over the two days. A light breakfast, lunch, and snacks will be provided both days.
Instructors will be Jennifer Fitzgerald (Monograph 5 Committee Chair) and Rick Krenek (Monograph 5 Committee Vice-Chair).
Jennifer Fitzgerald is Vice President, Reserves for Oil and Gas at Occidental Petroleum Corporation and is responsible for overseeing the preparation of reserve estimates, in compliance with SEC rules and regulations, including the internal audit and review of Occidental’s oil and gas reserves data. She has over 24 years of experience in the upstream sector of the exploration and production business and has extensive experience evaluating a variety of assets in basins around the world. Jennifer is a past President of the International Executive Committee for the Society of Petroleum Evaluation Engineers (SPEE) and a member of the Society of Petroleum Engineers (SPE). She currently serves as Chair of the SPEE Annual Meeting Advance Planning Committee and on the SPEE Council of Past Presidents and Reserves Definitions Committees. Jennifer has a Bachelor of Science degree in chemical engineering from the University of Illinois Champaign-Urbana. She is a licensed Professional Engineer in the State of Texas.
Richard F. (Rick) Krenek II is Vice President – Team Leader at Netherland, Sewell & Associates, Inc. (NSAI). He has approximately 40 years of experience in the upstream sector, including 35 years with NSAI. His work at NSAI has included oil and gas reserves and resources estimations, property evaluations, expert testimony, and advisory for properties located throughout the world. Rick is an honorary lifetime member and a past President of the International Executive Committee for the SPEE. Rick is a lifetime member of the SPE and currently serves on the SPE’s Oil and Gas Reserves Committee (OGRC). His service on OGRC includes being a member of OGRC’s PRMS 2028 Update Committee and Chairing OGRC’s Reserves Estimation and Auditing Guidelines Update Subcommittee. Rick has a Bachelor of Science degree in chemical engineering from the University of Oklahoma. He is a Licensed Professional Engineer in the State of Texas.
