Understanding The 2007 SPE/WPC/AAPG/SPEE Resource Classification System
Through The Development of a Project From Concept To Production
Hodgin, John1, Ronald Harrell2
(1) Ryderscott, N/A, TX (2) Ryderscott, N/A
Hydrocarbon resources are classified from
pre-discovery through production and sales using three measures of project
maturity – Operational, Decision or Economics-based. Hydrocarbon resources,
including reserves, are further categorized according to defined levels of
uncertainty. This paper will describe a hypothetical project from an unexplored
license area through discovery, appraisal drilling, development planning,
project sanctioning, market studies, regulatory approvals and other critical
planning and execution steps. Each critical step will be tracked through the
three project maturity classification schemes and the resources/reserves
categorization system to more clearly explain the requirements and constraints
to progress a project to maturation.
AAPG Search and Discover Article #90063©2007 AAPG Annual Convention, Long Beach, California