Director, Reservoir Engineering — Houston, TX

at W&T Offshore
Location Houston, United States
Date Posted February 1, 2016
Category Reservoir Engineer
Job Type Permanent
Min. Years Experience Required 10

Description

Leader of the Corporate Reserve Staff which is responsible for the generation of quarterly SEC reserve report updates, monthly production forecasts, annual production guidance, petrophysical analysis and assists in the development of the long term budget plans for the Company.

Career Benefit:
This is a unique career growth opportunity for a successful leader with strong technical skills. The selected candidate will direct the Corporate Reservoir Staff that is a strategic part of a strong and growing independent E&P company.

If you are looking for an opportunity to expand your knowledge and grow with a proven and dynamic operator, this is the right opportunity for you.

Responsibilities and Expectations:
• Develop a thorough understanding of the Company’s reserve assets and production capacity related to reserve bookings and production projections used in both internal estimates of production and third party reserve determinations.
• Review the monthly management production forecast for the company using ARIES and Excel and other tools that is a compilation of well production projections prepared by the Asset Teams.
o Work with Area Teams and reservoir engineers on near term production forecasts for all active wells. Ensure that updates in the ARIES change log, which is maintained by the responsible engineer and technical staff, properly reflect the production profile of the Company.
o Review ARIES production plots for key wells to quality check latest forecast relative to well and field history. Focal point for the maintenance and updating of the evergreen production and annual guidance range based on monthly production forecast for the current calendar year.
o Work with Marketing and Asset Teams to incorporate planned production outages into the monthly production update.
o Work with corporate technical staff and corporate planning staff to incorporate latest monthly production update into corporate planning software model.
o Provide input and recommendations on corporate input for appropriate downtime assumptions, pricing assumptions, etc.
o Create effective tracking and flagging approach that increases awareness of production trends deviating from previous forecasts and/or deviations from reserve case forecasts. Develop QAQC flags to improve and incorporate into the reserves estimating process.
o Annually review and recommend, as well as seek, executive concurrence on Corporate plans and desired Corporate outcomes relative to quarterly and annual reports and content (e.g.: content outcomes for Q1 and Q3 versus Q2 and Q4)
• Responsible for generating the Annual and Semi-annual SEC reports.
o Manages and delivers the annual SEC report which is prepared by a third party consulting firm and the results are officially reported as part of the Company’s 10-K. Conduct sensitivities as needed. Responsible to optimize the process.
o Work with Area Teams, corporate planning and third party engineering firm to provide key input for the generation and reconciliation of the company Annual SEC and mid-year reports.
o Discoveries for the current quarter and year-to-date are incorporated into the quarter roll-forward as needed.
o Provide a reconciliation of Proven reserves relative to the current SEC report.
o Develop and maintain the following: Quarterly Plan versus Actual compilation of reserve finding outcome and finding costs outcome.
o A rolling multi-year Plan versus Actual compilation of a rolling multi-year (3 year) reserves booking plan (and F&D) linked to the corporate plans/budgets.
o Work with staff to ensure that capital and LOE for each field tie to latest budget by the Area Teams.
o Guide corporate petrophysical engineer’s activities as needed to provide support to the reserves, Asset and Exploration Teams
o Work with staff to ensure that the lease operating statement (LOS) data sent to the third party are properly reflected in the ARIES cash flows (NGL yields, shrinkage & monthly LOE). Keep track of supporting data for all capital in the SEC report to provide to auditors.
o Ensure that staff documents and reports field downtime to the third party to ensure decline curve forecasts by the third party are not negatively impacted by downtime being interpreted as reservoir performance.
o Provide probable and possible reserve reconciliations as necessary. Develop the probable and possible capex descriptions for use in investor relations presentations (distinguish between probable and possible reserves that do or do not require additional capital to produce).
o Drive every completion to include a 1P/2P/3P element. Audit and report on same. Develop value understanding of these incremental wedges and communicate with teams, planning and executive management on same.
o Ensure that proper documentation of future capital expenditures is maintained and any changes tracked for proper support for SOX controls. This documentation includes developing a description of the scope-of-work for each capex project.
o Ensure compliance with SOX regulations relative to reserve reporting.
o Engage with management on possible adoption of credentials and training to “certify” our W&T engineers as qualified reserves estimators.
• Responsible for reservoir engineering Power Point section of semi-annual bank meeting
o Use the most recent SEC report (mid-year or Annual) and run at Bank pricing to provide the Financial group and the Banks updated cash flows.
o Provide a reconciliation of reserves relative to the previous Bank meeting cash flows.
o Provide an explanation of any significant changes in reserves, LOE or capital that impacted the updated reserves.
o Ensure that a projection of future processing handling income based on operated and non-operated production forecasts for the Bank meeting is provided since it may represent a significant income potential not reflected in proved cash flow provided to the Banks.
o Create and deliver the technical (reserves/value basis) presentation at the semi-annual Bank meeting and other select external based meetings.

Education, Experience and Certification(s):
• Requires a Bachelor of Science degree in Petroleum, Natural Gas or Chemical Engineering, or other related engineering discipline.
• Minimum 10+ years of experience in Reservoir Engineering
• Minimum 5+ years of experience in SEC reserves reporting
• Registered petroleum engineer in Texas a plus

Knowledge, Skills and Abilities:
• Strong experience in reserves management and sound understanding in SEC and SPE (PRMS) reserves classification and quantification. Develop and adopt appropriate certification approach for qualifying W&T reserves engineers.
• Strong proficiency with investment economics and cash flow modelling and understanding is a key. Strong proficiency with ARIES economic analysis software including multi-graph is a must.
• Must have a high proficiency with Microsoft Excel and a working knowledge Word, and PowerPoint.
• Proficient with classical reservoir engineering techniques and tool such as MATBAL, P/Z, decline analysis, volumetric analysis, pressure transient analysis.
• Coach and mentor engineers and staff as appropriate on reserves estimating techniques. Conduct over-sight and QAQC in conjunction with teams and managers.
• Understanding of classical geological interpretations data, such as structural mapping, seismic interpretations and net pay mapping.
• Provide guidance and technical review of reservoir simulation efforts by staff or consultants to ensure proper field development and reserve bookings.
• A confident and assertive personality with the ability to provide effective technical leadership and articulate strong technical arguments working with third party consultants.
• Understanding of the analysis of open hole and cased hole logs
• Strong communication skills (written & verbal)
• Strong organization skill for documentation of all forecast and reserve work
• Field development planning and/or operations experience is also a plus

Work Environment:
• Office environment primarily
• Requires occasional travel outside service area to meet with engineering consultants and others
• Requires standing, sitting, walking, kneeling, twisting and climbing steps
• Requires operation of a personal computer Requirements Education, Experience and Certification(s):
• Requires a Bachelor of Science degree in Petroleum, Natural Gas or Chemical Engineering, or other related engineering discipline.
• Minimum 10+ years of experience in Reservoir Engineering
• Minimum 5+ years of experience in SEC reserves reporting
• Registered petroleum engineer in Texas a plus

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