The asset teams were very welll prepared, but the GM of Global Reserves wasn’t attentive to the process he manages. As a result there wer a number of pointless reviews and the team was left wit a view that the GM didn’t even understand the debate at hand. Proved Reserves that could impact the corporate bookies weren’t booked because of incompetence,
I believe this a problem noted previously. I can only hope that Goe JeaJeas who reads this sight occasionally will discuss with Mike W.
1cqy - I agree with what you have to say in general, but the lack of qualified leadership for this group remains the issue. Those of us who have worked Reserves for the last 20 years have seen the person in the top position go from respectable, to marginal and argumentative, to sadly laughable. How long can Management go without recognizing the situation.
From my observation, I’d say many in the Reserves Group are at retirement age. We could see a walk out of qualified staff leaving an incompetent manager exposed.
I just hope I’m wrong or someone up the chain is aware and working this issue.
Ijfn is correct, however you also need to cultivate your RAC Chair throughout the year to optimize your chance of success. They all have their preferred “belly scratches”, especially wining and dining. One I know loves his single malt and will promise you the world on his second Glennfidic. Another likes being taken expensive jewelry shopping in international locations. They ALL love having their technical ego’s stroke in the meeting, even though none of them have drilled a well in 20 years.
The weirdest one is their boss. He thrives on high-praise from the VP’s in the hope that he can get out and find a more satisfying job. I think that’s highly unlikely and he may be lucky to hang onto his current job given the 360 feedback he’s getting.
@1ttv - In other words, just BS your way through it. Every oil company tries to fudge their numbers. After all, it’s always an estimate no matter if you use the standardized methodology for calculating oil reserves. But be careful on fudging too much as one day, if the proof is not in the pudding, you will pay the price dearly and lose credibility.
Thing about reservoirs is always double your estimate and always pretend you know what you’re talking about.