Journal of Petroleum Technology, Vol.53, No.12, 47-47, 2001
Aggregating reserves and resources for portfolio management
Implementing corporatewide portfolio management requires rigorous volume classification, consistent volume aggregation, and category transfers that incorporate associated risk and uncertainty. For a given capital-investment schedule, annual projections are determined of production, remaining reserves, and resources according to certainty class. Then, a total remaining estimated ultimate recovery (EUR) is calculated that aggregates volumes discounted for technical and commercial certainty, discovery risk, and acquisition probability.