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Title: Equity, Royalties And Reservoir A Risk Based Approach To Solving Measurement Issues
Author: Howard Bergen,
Source: 2017 Canadian School of Hydrocarbon Measurement
Year Published: 2017
Abstract: This talk is not designed to provide any answers. It is designed to provide you with questions which need to asked and answered. First Steps When evaluating what action to take when a measurement issue is discovered, there are three basic questions that need to be answered: 1: Is this a regulatory violation? 2: What is the cost of fixing the issue? 3: What is the cost of not fixing the issue? The key point here is that not all issues need to be fixed. They may just be a result of normal and compliant operating procedures. An example of this might be a bad proration factor in a shallow gas field. Even with annual testing, a 20% decline rate would give you a theoretical proration factor of .8 at the end of the year. Although this is outside the Boards expectations and may trigger some alarms, it is normal, expected, explainable and doesnt require a fix.

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