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Reserves & Resources Evaluation for Unconventional Plays

Sponsored by: SPE Argentine Petroleum Section

Thursday, 7 December 2023, 9:00 a.m.–5:00 p.m.  |  Buenos Aires, Argentina

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Who Should Attend

Professionals in the energy sector who want to significantly elevate their expertise in reserves and resources evaluation, particularly in unconventional energy plays. Such specialized understanding of the PRMS and SEC will equip attendees to perform reserves and resources calculations specifically related to unconventional projects on a global scale.

Attending this course is a strategic investment for professionals seeking to enhance their knowledge, stay up to date with industry reserves and resources standards, and master advanced analytical techniques in the realm of unconventional energy resources evaluation.


The primary goal of this course is to introduce attendees to the concepts of reserves and resources evaluation specifically applied to unconventional plays in the oil and gas industry. The course will also cover the classification concepts as they are defined by the Petroleum Resources Management System (PRMS) and the United States Securities and Exchange Commission (SEC). These are internationally recognized frameworks for categorizing and reporting oil and gas reserves and resources in conventional and unconventional plays.

Attendees will gain an understanding of the most recently published edition of the PRMS as it applies to existing recoverable volumes in unconventional resources. The course will cover the application of performance-based methodologies, focusing on the use of analogs, decline-curve analysis, and statistical methods (i.e., Monograph 3 as published by the Society of Petroleum Evaluation Engineers in 2010 and Monograph 4 as published by the Society of Petroleum Evaluation Engineers in 2016) to address reservoir and completion uncertainty at each phase of development maturity. The course will also introduce the basic economic concepts necessary to fully evaluate such resources.

Course Content

Short Course Sponsor

Participants will obtain insight into the latest publications of the PRMS, enabling them to assess and manage existing recoverable volumes in unconventional plays. Additionally, the course will emphasize performance-based methodologies, including the use of analogs, decline-curve analysis, and statistical methods to confidently address reservoir and completion uncertainties at every stage of development maturity.

The following topics will be covered during the course:

  • Introduction to the PRMS
    • Definitions and guidelines for classifying and categorizing petroleum resources.
  • SEC rules and regulations.
    • Regulatory and technical requirements for the estimation of proved reserves.
  • Comparison of the PRMS and SEC.
  • Review techniques to estimate in-place and recoverable volumes.
  • Review the definitions of unconventional resources and reserves and techniques to estimate recoverable volumes.
    • Overview of the Vaca Muerta resources progression.
    • Decline-curve analysis (time-rate analysis):
      • Power Law, Duong, Modified Hyperbolic (Monograph 4).
      • Analogs and type curves.
    • Well performance forecasting by development maturity.
      • PRMS review
      • Examples discussion.
    • Statistical methods (Monograph 3).
    • Key economic concepts of reserves evaluation.
      • Correct classification guidelines to avoid double-booking.

Note: The course will be taught in Spanish with English language slides. Simultaneous translation into English will not be provided.


Gustavo Fernandez has over 25 years of experience in the oil and gas industry. Mr. Fernandez started his carrier in 1997 at YPF, in Argentina. In 2006, he joined Chevron Argentina as a reservoir engineer focused on conventional oil and gas fields located in the Neuquén Basin. Later, he worked as reservoir engineer, waterflood engineer, simulation engineer, and reserves coordinator for Chevron projects worldwide (Angola, Argentina, Brazil, Colombia, Kuwait, United States).

From 2012 to 2016, he led the internal annual reserves cycle process for Chevron Brazil. Between 2016 and 2021, he was part of the Loma Campana Unconventional (Vaca Muerta) development team for Chevron Argentina.

He joined DeGolyer and MacNaughton in 2021 to evaluate reserves and resources in the Asia-Pacific/Latin America geographic areas.

Since 2022, Mr. Fernandez has been a professor of reserves and resources in the Petroleum Engineering Department at the Instituto Tecnológico de Buenos Aires (ITBA) in Buenos Aires, Argentina.



NonMember Fee:
Member Fee:
Student Fee:
Attendee Limits:
Professionals: 25
Students: 6
Fee Includes:
Course Materials (sent electronically)
Coffee Breaks

Note: All prices are quoted in USD.

Register for this short course during URTeC registration.

Refunds for short courses can be made no later than 30 October. No refunds can be made after this date.

You may substitute one participant for another.


Reserves & Resources Evaluation for Unconventional Plays
Buenos Aires Institute of Technology
San Martín 202
Buenos Aires, Buenos Aires C1004AAB
+54 810 222 4822