2007 SPE/WPC/AAPG/SPEE Petroleum Resource Management System

H006 2007 SPE/WPC/AAPG/SPEE Petroleum Resource Management System J. Etherington* (PRA International Ltd) & J.E. Ritter (Occidental Petroleum) SUMMARY In late 2004 a focused effort was begun to update the 1997 SPE/WPC Petroleum Reserves Definitions and the 2000 SPE/WPC/AAPG Petroleum Resources Classification and Definitions. The evolution of the industry driven by advancements in technology the international expansion of the E&P sector and the increasing role of unconventional resources created the requirement to update a standard that had served the industry well for the last 10 years. The 2007 system builds on previous guidance to achieve a high level of consistency in