Society Of Petroleum Evaluation Engineers (Calgary) — Forecast Pricing Guidelines
Forecast Pricing Guidelines
The Calgary Chapter of the Society of Petroleum Evaluation Engineers (SPEE) is in the process of introducing recommendations in The Canadian Oil and Gas Evaluation Handbook (COGEH) for the preparation of price schedules that are to be used in reserves evaluations (note that these are recommendations, and not fully required).
Although these evaluations are based on very extensive datasets and expertise, it has been noted that the significance of this detailed work is lost in some investor circles. This is primarily due to the perception that the price schedules being used are not reflective of the market conditions. Our goal is to increase the usefulness of reserve reports by basing the results on forecast prices that are more in-line with industry and investor expectations.
The proposed wording for the Forecasting Guidelines, as well as the ability to provide feedback, can be found at the following link: