Definition recoverable reserves are defined as the proportion of resources, here oil and gas, that can be technically, economically and legally possible to extract. All crude oil and natural gas reserve and resource information contained in this document has been prepared and presented in accordance with national instrument 51101 standards of disclosure for oil and gas activities and the canadian oil and gas evaluation handbook. Canadian oil and gas evaluation handbook, second edition, volume i, section 5, sep. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. Csa staff notice 527 revised guidance on oil and gas. The coge handbook has been prepared by the calgary chapter of the society of petroleum evaluation engineers spee calgary. Canadian oil and gas evaluation handbook society of petroleum. The online version of handbook of offshore oil and gas operations on pdf 252 k chapter 1 occurrence and formation of crude oil and natural gas. Coge is defined as canadian oil and gas evaluation handbook frequently. Price forecast archives deloitte canada resource and. Canadian oil and gas evaluation handbook consolidated 3rd edition online 242 p a g e all assets with reserves previously assigned opening balances should only have change records associated with production, economic factors and technical revisions. The canadian oil and gas evalua on coge handbook is the technical standard for the professional prac ce of evalua ng and classifying oil and gas reserves and resources in alberta.
Glj evaluated the companys horizon synthetic crude oil reserves. Oil and natural gas reserves can be booked for accounting purposes. Oil has been used for lighting purposes for many thousands of years. Consideration is also given to global supply and demand as well as the economic outlook of world markets. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Consists of three volumes that provide a set of standards and guidelines for the preparation of oil and gas resource evaluations.
The canadian oil and gas evaluaon coge handbook is the technical standard for the professional pracce of evaluang and classifying oil. Reserves definitions and evaluation practices and procedures published september 2007 includes a discussion of evaluator qualifications, business. Deloittes oil and gas price forecast takes into account many factors, including futures market trading and historical data. The definitions and standards for reserve appraisals and evaluations are defined in the canadian oil and gas evaluation handbook cogeh. An overview of the canadian oil and gas evaluation handbook. The canadian oil and gas evaluation handbook, volume 2 was prepared by the calgary chapter. Resource evaluation report parowan prospect in iron county. Volume 1 reserves definitions and evaluation practices and procedures. Coge handbook means the canadian oil and gas evaluation handbook.
In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. Price forecast archives download our price and market demand forecasts from years past. Rrreeesssererervvvoir engoir engoir engininineeeering for. All oil and natural gas reserve information contained in this annual information form is derived from the glj report and has been prepared and presented in accordance with the canadian oil and gas evaluation handbook cogeh and national instrument 51101 standards of disclosure for oil and gas activities. Bridging between subsurface and production, the handbook provides engineers and geoscientists with effective methodology to better define resources and reservoirs. Canadian regulations society of petroleum evaluation engineers. Crains petrophysical handbook publications by ross crain. Africa oil releases its yearend 2019 statement of reserves. Posts tagged canadian oil and gas evaluation handbook cogeh.
The handbook showcases a collection of commerciallydemonstrated products and practices available for the canadian oil and gas industry. The evaluation process definitions and guidelines reporting. Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells. Canadian oil and gas evaluation handbook first edition. He has been a past member of the spe oil and gas reserves committee and currently serves on the spee reserves definition committee. General rules for booking reserves are found in the canadian oil and gas evaluation handbook. Advantagewons common shares are listed on the otc markets in the united states and on the canadian securities exchange cse in canada. The canadian oil and gas evaluation handbook cogeh. The reserves disclosure is presented in accordance with ni 51101 requirements. The resource definitions and course reservations will focus on the specific methodologies used in the prms, but they will also compare the classification system and definitions with those used in the securities and exchange commission sec, the canadian oil and gas evaluation handbook cogeh, and other regulatory bodies. Reserves definitions and evaluation practices and procedures.
How is canadian oil and gas evaluation handbook abbreviated. Unconventional oil and gas resources handbook evaluation and development edited by y. Oil and gas regulatory framework guidance canadian oil and gas evaluation handbook coge handbook technical standard for ni 51. Clearly defined project evaluation boundary on an appropriately scaled map of alberta in pdf format, which also identifies the project area lands and emerging. Coge stands for canadian oil and gas evaluation handbook. This information is collected from several sources, including industry publications, exchange markets, and government agencies. Acknowledgements the handbook was prepared by a team under the leadership and editing of marc godin and. Canadian oil and gas evaluation handbook consolidated 3rd edition online 244 p a g e d. Subscribe for one year online viewing of the canadian oil and gas evaluation handbook pdf. Home sproule energy oil, gas, petroleum consulting. An overview of oil and gas evaluation, classification and. The sales of the canadian oil and gas evaluation handbook cogeh is now being administered by sproule.
Evaluation of oil and gas reserves and resources for. The society of petroleum evaluation engineers calgary chapter and canadian institute. Print course page pdf email course page discipline. H30702 economic evaluation of oil and gas properties handbook table of contents page chapter i. The canadian oil and gas evaluation handbook cogeh, first published in 2002, is recognised as the standard for evaluation practice in canadian securities. Reserves definitions and evaluation practices and procedures published september 2007 includes a discussion of evaluator qualifications. Piip, petroleum society of the canadian institute of mining, possible reserves, probable reserves. Unconventional oil and gas resources handbook 1st edition. Coge handbook pdf download society of petroleum evaluation. Canadian oil and gas evaluation handbook glj petroleum. International crude oil, bitumen, natural gas and ngl reserves. Cogeh individual subscription society of petroleum.
H30702 economic evaluation of oil and gas properties. Log evaluation results in the deep basin area of alberta e. Journal canadian petroleum technology, february 1982 reprinted canadian well logging society journal, dec 1982 reprinted in cwls insite, sept 2003 jcpt 1982 cwls 1982 reprint cwls 2003 reprint. Volume 2 detailed guidelines for estimation and classification of oil and gas resources and reserves. Changes due to different operating and capital cost assumptions. Finding the silver lining north american natural gas download. See all formats and editions hide other formats and editions. Sproule is a global energy consulting firm providing technical and commercial services for reserves certification, reservoir characterization, strategic advisory, and asset management. The canadian securities administrators csa, through national instrument 51101 ni 51101, sets the standards for disclosure of oil and gas activities for companies listed on canadian stock exchanges. Certain terms used in this statement but not defined herein are defined in ni 51101 or the canadian oil and gas evaluation handbook maintained by the society of petroleum evaluation engineers calgary chapter the coge handbook and, unless the context requires otherwise, shall have the same meanings in this statement as in ni 51. Evaluation and development is a musthave, helpful handbook that brings a wealth of information to engineers and geoscientists. For oil and gas activities application of canadian oil and gas evaluation handbook national instrument 51101 standards of disclosure for oil and gas activities mandates adherence to the canadian oil and gas evaluation handbook the coge handbook in respect of matters such as reserve and resource classification and terminology and.
Canadian oil and gas evaluation handbook first edition september 2007 volume 3 detailed guidelines for estimation and classification of coal bed methane cbm reserves and resources reserves recognition for international properties c 263724 detailed guidelines for estimation and classification of bitumen and steam assisted gravity drainage sagd. Ipt, in accordance with the standards contained in the canadian oil and gas evaluation handbook and with the canadian national instrument 51101. Reserves revisions resulting from changes in operating and capital cost estimates should be included in the technical revision category. Canadian oil and gas evaluation handbook how is canadian. It is intended primarily for the reporting of resources information in canada but may have application to other jurisdictions as a general guideline for resource. To order any of the cogeh volumes, please visit the spee website the second edition of volume 1. This document was revised on october 15, 2019 and contains. National instrument 51101 bc securities commission. Change records for discoveries, extensions, infill drilling, improved recovery, and. Alberta apega and prepared in accordance with the canadian oil and gas evaluation handbook cogeh or petroleum resources management system prms. Royalty regime, incentive programs, royalty allowances 1, 2, 3, 7, 12. August 2018 the newly updated canadian oil and gas evaluations handbook cogeh is now available online. Canadian oil and gas evaluation handbook cogeh, definitions of oil and.
Ni 51101 requires oil and gas disclosure to be prepared in accordance with the canadian oil and gas evaluation handbook coge handbook. The evalua on of oil and gas reserves and resources for public disclosure prac ce. The office of the comptroller of the currencys occ comptrollers handbook booklet, oil and gas exploration and production lending, is prepared for use by occ examiners in connection with their examination and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations collectively, banks. An oil and gas lease is considered to be a form of intangible personal property, and thus can generally be pledged for security. The canadian upstream oil and gas ecoefficiency and operations handbook was developed to meet this need. Download a pdf version of the canadian oil and gas evaluation handbook pdf. The first edition of volume 1 of the canadian oil and gas evaluation handbook cogeh was published in 2002 by the calgary chapter of the society of petroleum evaluation engineers spee to act as a standard for the evaluation of oil and gas properties. This document was revised in october 15, 2019 and contains.
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