Oil gas proved reserve value estimation method

Abstract

The present invention relates to a value-based evaluation method of oil and gas proved reserves. The present invention adopts a technical proposal that the calculation method for valuation of the oil and gas reserves is using a computer to set the reserves acquisition cost of a purchaser as a reserves asset value and as cash to flow out, and calculating and distilling depreciation as fixed assets, setting the internal return rate of the purchaser as a basic return rate, reversely calculating to obtain the reserves acquisition cost which is taken as the value of the reserves. The evaluation method has the advantages in the following four aspects: 1. the exploration benefit of different oil reserves can be analyzed according to the evaluation of the proved reserves of each area so as to provide guidance for succeeding exploration works; 2. reserves with economic benefit is selected out and invested in development with clear target in time according to the changes of global oil price, tax policy and supply and demand relationship by evaluating the value of undeveloped proved reserves, thereby providing scientific basis for the decisions of companies.

Description

1. Technical field: [0001] The invention relates to a method for evaluating the value of oil and gas reserves, in particular to a method for evaluating the value of proven oil and gas reserves processed by computer technology. 2. Background technology: [0002] The value of oil and gas reserves refers to the "fair market value" acceptable to buyers and sellers. In the transaction of oil and gas reserves, buyers and sellers have different purposes, but two issues must be considered: one is to evaluate the reserves, including determining the type, size, quality and production capacity of reserves, etc.; Predict the economic benefits of reserves, including oil and gas prices, future cash flow, discount rate, and investment; add other uncertain factors and possible risk factors, and finally agree on a "fair market price" acceptable to both buyers and sellers. Therefore, the value of oil and gas reserves is the basic market price in the commercialization of reserves. It cannot d...

AI Technical Summary

Problems solved by technology

In the transaction of oil and gas reserves, buyers and sellers have different purposes, but two issues must be considered: one is to evaluate the reserves, including determining the type, size, quality and production capacity of reserves, etc.; Predict the economic benefits of reserves, including oil and gas prices, future cash flows, discount rates, and investment; add other uncertain factors and possible risk factors, and finally agree on a "fair market price" acceptable to both buyers and sellers

If this method is adopted, it can only be used for the transfer of rights and interests in the initial stage of exploration

[0011] 2. Replacement cost method

[0013] (1) With the advancement of technology, the replacement cost of fixed assets such as machinery and equipment will gradually decrease; while oil and gas reserves will become increasingly scarce due to the limited resources over time, and the difficulty of exploration will also increase with the increase in the degree of exploration , the replacement cost of the reserves will inevitably increase significantly because of this, and the extent of the increase is affected by many complicated factors, and it is not as easy to determine in specific operations as the loss of fixed assets

[0014] (2) Oil and gas reserves are mineral resources stored in specific geological bodies, which cannot be replaced under the same conditions. Even if they can be replaced in other areas, the replacement cost cannot be estimated due to exploration risks

[0021] However, in the process of evaluating the value of the existing proven oil and gas reserves in the above methods, there is a problem that none of them can be accurately evaluated, resulting in mistakes in decision-making in oilfield development and formulation of medium and long-term development plans, which have a negative effect on improving the return on investment and sustainable and stable development. Negative Effects

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