Training

New Monograph 5 Training

Course Title:

Monograph 5: A Practical Guide to Type Well Profiles – Immersion Course

Abstract:

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.

The 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.

Currently planned Monograph 5 public courses:

Denver May 5-6, 2025  (Denver Course Information)

Additional 2025 locations with dates yet to be determined:  Houston, Oklahoma City, Calgary, and Buenos Aires

Other public courses to be planned in the future: Dallas, Midland, and several locations outside North America.

Previously held courses

Pre-publication:

Half day course held at the June 2023 SPEE Annual Meeting in Newport, RI
Eight hour course held at the June 2024 SPEE Annual Meeting in Avon, CO

Post-publication:

2-day immersion training course held March 5-6, 2025 in Houston. The course was closed and by invite only, specifically for representatives of the various companies that produce and sell software for the reserves/resources sector of the upstream O&G industry. Six companies sent representatives.

Additional SPEE Training

The objective of the SPEE Training program is to provide quality SPEE Training Courses to be conducted worldwide by qualified SPEE instructors 1) in support of the Monograph Publications of the SPEE and 2) covering other topics of interest to SPEE members.  The society focuses on offering unique and relevant training classes in support of its Mission to promote the professional development of the membership and the advancement of the profession of Petroleum Evaluation Engineering.  The SPEE has multiple delivery types available:

• In-Person training classes, both public-facing and in-house
• Virtual training classes
• On-demand training videos

SPEE has several courses that have been built by world-class experts in petroleum reserves definitions and best practices:

• SEC (Securities and Exchange Commission) 2009 Reserves Definitions
• SPEE Monograph 3, “Guidelines for the Practical Evaluation of Undeveloped Reserves in Resource Plays”
• SPEE Monograph 4, “Estimating Ultimate Recovery of Developed Wells in Low-Permeability Reservoirs”
• SPEE Monograph 5, “A Practical Guide to Type Well Profiles”
• Recommended Evaluation Practices

If you have any questions about SPEE training, please reach out to training@spee.org

In-Person Training

SPEE holds in-person training classes at its Annual Conference as well as in various cities according to demand.  See below for our current schedule, or contact us to explore hosting one!  SPEE does, from time to time, provide in-house training classes for larger organizations.  Please reach out to training@spee.org for more information.

• Recently Completed: SPEE Annual Meeting in Avon, Colorado, June 1-4, 2024.
  • Monograph 5 Short Course
  • New SEC Disclosure Rules and Related Developments
  • CCUS, 45Q Tax Credits and Monetization
• Check back for updates as other courses are announced.

Virtual Training

SPEE offers virtual courses to complement in-person classes, according to demand

• Recently Completed: SEC Reserves Definitions Training by Dr. John Lee, online Zoom, March 6-7, 2023.
• Recently Completed: SPEE Monograph 4 on Unconventional PDP Estimation Training by Dr. John Lee, online Zoom, March 8-9, 2023.
• Check back for updates as other courses are announced.

On-Demand Training Videos

Selected on-demand recordings of SPEE training materials are made available to SPEE Members free of charge.  For non-members looking to access these, please Click Here or contact training@spee.org

• Recommended Evaluation Practices by Dan Olds and Dr. John Wright