Internal Reserves Audit
Under this arrangement, a Ryder Scott senior practitioner becomes an integral part of a company’s internal reserves audit management team. This team typically is composed of the client’s reserves manager, chief reservoir engineer, chief geologist and chief geophysicist. The team meets with various operating units and examines reserves assets and “threats” to the reserves base, which, if not dealt with, might necessitate de-booking.
The team analyzes company resources and makes recommendations, such as allocating manpower and financial commitments to mitigate reserves threats. Activities of the team may involve devising a plan to accelerate the addition of reserves or finding ways to prove up overlooked reserves.
Ryder Scott consultants typically work as members of the “company” internal multidisciplinary team while furnishing expert outside perspectives on how other oil companies handle difficult reserves issues and how regulatory compliance issues have a bearing.