Property Evaluations include any level of study requested by the property owner:
a) Producing well(s) reserve projection.
b) Non-producing well(s) reserve determination and projection (behind pipe; undeveloped).
c) Upside reserve potential and projection (secondary; tertiary; horizontal drilling).
d) All or any part(s) of the above.
Most owners do not realize the exploitation potential of their properties. Lean staffs and time constraints require focus on day-to-day operations. In addition, third party reserve auditors are paid to report reserves entirely on what they are told to review, and that only. Their reservoir engineers are typically very talented and accurate, but often lack operational and real-world experience.
However, AEA takes an exploitative view while evaluating your property. Our engineers and geologists have extensive operational as well as reservoir evaluation experience. If given the data and materials, they will study the "exploitation potential" of your property(s) considering modern logging techniques, cutting edge drilling and completion methods, updated producing methods, etc., and summarize these for the client in their final report. If any of these "discovered" upsides are bookable, they will be added to your reserves.
An additional advantage of this type of evaluation is that a suggested exploitation and development plan (with projects ranked by value) is created during the study that can be used for budget purposes.
AEA uses PHDWin for its engineering program, which also converts to ARIES DOS. Reports include the details of the assumptions used, summary and detailed economics, and always include decline curves. All reserve bookings are in accordance with SEC guidelines, and will be able to be included in your 3rd party auditor's annual reserve report.