Contingent Resources Assessments
In addition to estimating reserves for fields worldwide, DeGolyer and MacNaughton evaluates and appraises Contingent Resources for conventional and unconventional hydrocarbon deposits using Petroleum Resources Management System (PRMS) guidelines.
Contingent resources are defined as discovered quantities of petroleum that may be potentially recoverable from known accumulations. These quantities cannot be classified as reserves because of contingencies, such as a lack of market, regulatory approval, or instances when development depends on unproven or undeveloped technology.
Although not classified as reserves, contingent resources are evaluated and quantified using the same rigorous processes and standards D&M applies to reserves estimates. At D&M, geographically-specialized teams of geophysicists, geologists, petrophysicists, engineers, and economists work together to evaluate contingent resources. As with reserve estimations, geophysicists and geologists work with petrophysicists to develop structural and stratigraphic reservoir and volumetric models. The firm’s engineers then determine the fluid properties, recoverable volumes, and projected producing rates. If the resource are to be appraised, the whole team works with the economists to create development plans, capital and operating expense profiles, and projections of revenue.
Recent contingent resources evaluations covered properties in onshore and offshore Australia, Brazil, Indonesia and Mozambique.