Senior Engineer, Corporate Reserves in Houston, Texas

at Energy XXI
Location Houston, Texas
Date Posted January 12, 2016
Category Reservoir Engineer
Job Type Permanent
Min. Years Experience Required 5

Description

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program.  The company's properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore.  We are currently looking to fill the position of a Senior Engineer, Corporate Reserves in Houston, Texas.

Responsibilities:

Summary:

The Senior Corporate Reserves Engineer is a key member of a team that coordinates the year-end reserves process and quarterly updates, ensures reserves compliance with all regulations, interfaces with exploitation teams and third party reserve auditors, monitors and analyzes reserve changes, tracks economic inputs, and prepares reconciliations and reports for senior management, exploitation, accounting, regulators, financial auditors, investors, and lending institutions.  This person will report to the Director of Corporate Reserves.

 

  • Coordinate fiscal year-end reserves process and quarterly updates with exploitation teams (reservoir engineers, production engineers, geologists, geophysicists)
  • Ensure reserves compliance with all regulations, and stay informed of changes and developments
  • Review internal (Proved, Probable, and Possible) reserve evaluations and coordinate data transfer and comparisons with 3rd party reserve auditors (NSAI) for annual audit
  • Monitor and analyze reserve changes, based on production performance and drilling and workover activities, including revisions, additions, and develops, as well as acquisitions and divestitures
  • Work with Sr. Corporate Reserves Tech to revise and maintain EXXI’s SEC Reserves (Aries) database, as needed
  • Track economic inputs for cash flow modeling:
    • Working and net revenue interests – changes to well master
    • Product reference prices and differentials, energy content – marketing, accounting
    • Shrink, NGL yields – accounting
    • LOE – accounting
    • Taxes (severance, ad valorem) – accounting
    • Capex – maintain drilling and recompletion costs
    • Asset retirement obligation (ARO) – maintain abandonment costs
  • Prepare reconciliations and reports for senior management, exploitation, accounting, regulators (SEC, AIM, EIA), financial auditors, investors, and lending institutions
  • Other duties as assigned
Qualifications:
  • Bachelor’s degree required in Petroleum Engineering or other Engineering discipline with appropriate professional experience
  • Minimum 5-10 years of experience, primarily focused in reservoir engineering
  • Microsoft Office proficiency required
  • Aries economics and reserves software proficiency required
  • Gulf of Mexico experience preferred

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