Petroleum Reservoir Engineering
Reservoir engineers work to understand and model the static and dynamic processes that control the movement of fluid within the underground reservoirs and the subsequent production of oil and gas at the surface. For more than 35 years, FTI Platt Sparks has performed reservoir engineering analysis on behalf of clients to help them understand their in-ground oil and gas assets and determine how best to manage them.
Oil & Gas Reserves
- Determine expected future oil & gas production rates
- Develop a discounted cash flow valuation of expected future oil & gas production considering attributes, such as reservoir structure, rock properties, well locations, flow mechanisms, fluid properties, drilling costs, equipment costs, product prices, etc.
- Forecast oil and gas reserve production rates and the resulting monetary values for financing collateral, internal financial planning, fair-market value determinations, as well as regulatory and financial reporting
Damage Cases and Quantification
- Investigate potential causes of decreased or lost production due to third-party interference through off-lease drainage, fluid injection out of the permitted zone, wellbore trespass, improper drilling and workover operations, governmental taking of mineral and exploration rights, etc.
- Perform sensitivity analyses to determine the value of the decreased/lost production had the interference not occurred
Reservoir Development and Management
- Employ reservoir modeling to test various proposed developments and production scenarios
- Perform well placement and drilling schedule sensitivity analyses to optimize field development plans
- Perform production operation sensitivity analyses to economically and technically optimize production rates to maximize hydrocarbon recovery and revenue, and minimize unrecoverable oil and gas
Oil & Gas Reservoir Volumes
- Determine the recoverable volumes of oil & gas in the reservoir to apportion ownership rights in unitization and pooling agreements
- Analyze fluid movement through the reservoir to determine oil & gas drainage across lease boundaries