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PASSA Meeting

November 15

Free

PASSA Meeting
Tuesday, November 15th
11:30 am – 1:00 pm (lunch provided-free)
San Antonio Petroleum Club

Sign-in Begins at 11:00 am

Guests are welcome:  lunch fee is $25

Speaker:  Dwayne Purvis, Founder & Principal Consultant, DWAYNE PURVIS, P.E. – 12:10 – 1:00 pm

Topic:  A New Economic Yardstick for Today’s Late-Life Production: Holdback

CPE offered:  1 hour
Program Level:  Basic
Prerequisites:  None
Advanced Preparation:  None
Delivery Method:  Group Live
Field of Study:  Specialized Study

NASBA Sponsor Council of Petroleum Accountants Societies, Inc. (COPAS) PO Box 21272, Wichita, KS 67208

Course Description

Discusses low-rate, late-life producers figure prominently in the portfolios of most oil companies, but they also create a unique financial trap for their owners.  Decades of delayed plugging has accumulated liabilities while production and cash flow have tapered down.  Combined these make it possible for cash-flowing properties with a positive present value to be net liability instead of an asset.  This presentation explains the unexpected, the dangers it creates, and how to foresee the trap

Learning Objectives

By the end of the presentation, the attendees will be better equipped to:

  1. Understand the economics behind low producing wells.
  2. Identify the financial liabilities of deferring plugging a low producing well.
  3. Identify the optimum time to plug a low producing well.

Speaker Bio – Dwayne Purvis, P.E. offers consulting and advisory services for the oil and gas industry, building on two and a half decades in reservoir engineering and executive leadership as a consultant and operator.  From engineering studies and reserve reports to strategic decision-making, Mr. Purvis helps operators and investors with reliable analysis for prudent decisions.

He has led or participated in hundreds of engineering studies over dozens of basins in the United States and abroad and advised on tactical and strategic decisions large and small.   Mr. Purvis frequently speaks and writes on issues of shale reservoirs, the energy transition, commodity prices, decline curve analysis, and risk analysis.

He is a registered professional engineer in the state of Texas, member of SPEE, AAPG, SEG, SIPES and an active, 25-year member of SPE.

Details

Date:
November 15
Cost:
Free
Event Category:

Organizer

Kirk Foreman
Phone:
817-718-6701
Email:
kforeman6@hotmail.com

Venue

San Antonio Petroleum Club
8620 N New Braunfels, Suite 700
San Antonio, TX 78217-6363 United States
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Phone:
210.824.9014
View Venue Website