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#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.

Highlights:

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:

https://www.linkedin.com/in/deb-ryan-p-e-a838005/

About SherWare, Inc.

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SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.
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About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

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