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Recent Items
- PPDM 3.7 added Apr 21
Work Group Status
This work group is complete.
Executive summary
Who Should Use the Reserves Modules in PPDM
- Companies that handle calculation and management of reserves
- E&P companies
- Software vendors who operate in reserves domain
- Data vendors who provide data in this domain
- Regulatory agencies who require reserves reporting
Work Group Status
This work group is not actively meeting, but reviews member requests for information or enhancements to the model.
Benefits
Standardizing the way that companies capture reserves information in their corporate data repositories will allow software vendors to provide less expensive applications that are faster to implement. Data vendors will be able to provide reserves information in a standardized format, reducing the need for translations and conversions. Regulatory agencies will be able to obtain data in a single format, reducing costs for all parties.
A standard PPDM reserves data structure can be supported by XML data exchange applications that meet Industry requirements for sharing data with a variety of stakeholders.
Scope
- Remaining gross/net reserves
- Reserve life index (R/P)
- Volumes
- Production Forecasting
- Reporting
- Calculation and determination methods
- Ownership and Interests
- Economic evaluations