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UID:875-1708428600-1708434000@copassa.org
SUMMARY:PASSA Meeting
DESCRIPTION:PASSA Meeting\nTuesday\, January 23\, 2024\n11:30 am – 1:00 pm (lunch provided-free)\nSan Antonio Petroleum Club  \nSign-in Begins at 11:00 am  \nGuests are welcome:  lunch fee is $25  \nSpeaker: Dwayne Purvis – Engineer – 12:10 – 1:00 pm  \nTopic:  Managing the “Zombie Well Apocalypse” and Orphaned Wells  \nCPE offered:  1 hour.  \nProgram Level:  Basic  \nPrerequisites:  None  \nAdvanced Preparation:  None  \nDelivery Method:  Group Live  \nField of Study:  Accounting  \nNASBA Sponsor Council of Petroleum Accountants Societies\, Inc. (COPAS) PO Box 21272\, Wichita\, KS 67208  \nCourse Description  \nA New Economic Yardstick for Today’s Late-life Production: Holdback 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 so that the tax-paying public does not end up footing the bill for our former profit centers.  \nLearning Objectives  \n\nDefining Zombie and Orphan Wells. \nIdentifying the issues surrounding these type wells. \nOutline what states and companies are doing to address the situation. \nUpdate on accounting changes for ARO (Asset Retirement Obligation). \n\nSpeaker Bio  \nDwayne Purvis\, P.E. is a petroleum reservoir engineer offering consulting and advisory services for the oil and gas industry and others engaging the energy transition based on nearly three decades in reservoir engineering and executive leadership as a consultant and operator.  \nHe 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.    \n 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. He also recently completed a master’s degree in sustainable energy at Johns Hopkins University.   \n 
URL:https://copassa.org/event/passa-meeting-10/
LOCATION:San Antonio Petroleum Club\, 8620 N New Braunfels\, Suite 700\, San Antonio\, TX\, 78217-6363\, United States
CATEGORIES:COPAS San Antonio Events
ORGANIZER;CN="Kirk Foreman":MAILTO:kforeman6@hotmail.com
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