#008:Understanding Oil and Gas Reserves with Deb Ryan
In today’s episode, Tom and Phil are joined by Deb Ryan, Senior Manager of Engineering at Sproule. Deb talks about how she is able to juggle all of her different roles, and gives valuable insight on how she helps companies calculate reserves. She discusses what companies can do before bringing in consultants to assist with reserve calculation, and how important it is to resist relying completely on automated systems for reserve calculation as they can leave quite a bit of room for error.
3:08 How Deb got started in oil and gas and eventually reserve analysis
5:40 Steps and factors in calculating reserves and why they are important
7:06 Determining which evaluation to use in different situations
11:47 The importance of reserves
15:25 What data are the reserves based on?
20:02 How production forecasts and decline curves are calculated
23:13 Why accounting automation can be a challenge when it comes to forecasting
24:19 How the current environment may impact year end reserves
32:38 Tips for companies that need help with reserve calculations
33:28 The importance of due diligence when it comes to calculating reserves
About Deb Ryan:
As Senior Manager, Engineering, Deb is responsible for managing Sproule’s Denver office and is part of the team that spearheads Sproule’s business development initiatives in the U.S. market. Deb’s 15-years of oil and gas industry experience includes reserve and contingent resource evaluations and audits, US and international fair market evaluations, and expert witness testimony. Deb has experience building dynamic simulation models and also provides instruction for various reservoir engineering classes for PetroSkills. Prior to joining Sproule, Deb held various positions with MHA Petroleum Consultants, Arrow Energy and Woodside Energy.
Deb was recently named as the North American Regional Director for Society of Petroleum Engineers (SPE) International Board of Directors. She is also on the SPE International Committee of Business Leadership and Management and was previously the Chair of the Denver Section. She currently serves as the Treasurer for the Women’s Energy Network (WEN) Foundation. Deb is also a member of the Society of Petroleum Evaluation Engineers (SPEE) and the Society of Women’s Engineers (SWE). In 2019 she was named by Denver Business Journal as one of the 40 Top Women in Energy and received the 2019 SPE Rocky Mountain Service Award. She is a registered Professional Engineer (PE) in Colorado.
Connect with Deb:
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