Training seminars hone skills of internal staffs

   Ryder Scott performs about a thousand studies a year to meet a variety of reporting requirements established by various regulatory agencies worldwide. Oil and gas companies that operate in narrower environments cannot possibly possess this breadth of experience. However Ryder Scott, through its reserves training seminars, shares its knowledge base with the industry. The fees range from no cost in a pro-bono arrangement to several thousand dollars for an in-depth three-day on-site presentation.

Larry Brewer, then director of reserves and valuation at Sonat Exploration Co., reviews a Ryder Scott seminar summary.

   Ryder Scott presented a training seminar last year at Sonat Exploration Co. that fulfilled needs typical of other clients. Larry Brewer, director of reserves and valuation at Sonat at that time, asked Ryder Scott to present an on-site seminar to the company's technical personnel. The goal was to educate the personnel in charge of forecasting proved reserves through a review and discussion of current issues.
   "I was charged with ensuring that our staff was trained to fully understand and adhere to reporting requirements and reserves definitions," Brewer said. "I asked Ryder Scott to conduct the seminar because its personnel are recognized within the industry as experts in these fields."
   Presenters and attendees tackled such technical issues as discriminating between proved and probable reserves and attaining the required reasonable certainty of recovery for proved reserves. The agenda included reserves definitions, engineering and geological pitfalls, audits vs. full-scale evaluations, quality control and coalbed methane evaluation.
   "The presentation on reserves definitions stimulated much discussion and was very well received. We were, in general, familiar with reserves-estimation practices, but Ryder Scott clarified some issues we had encountered applying those practices," said Brewer.
   Ryder Scott also presents less technical seminars to the financial community. Typically program agenda includes principles of reservoir geology and engineering, E&P activities and reserves estimates and economic forecasts.
For further information, contact Ron Harrell, CEO, at 713-651-9191, ext. 200 or at ron_harrell@ryderscott.com.

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