Methane Reserves Determination and Categorization
Determine Reserve Volumes Using CFD Modeling Together With Economic Analysis
Production forecasts must be combined with project capital and expense forecasts to determine the economic life of a project and hence its reserves.
Categorize Reserves into Proved, Probable and Possible Reserves Categories
Raven Ridge will categorize reserves based on U.S. Security and Exchange Commission and Society of Petroleum Engineers reserve definitions as we believe they apply to abandon mine methane projects. The probabilistic approach of determining reserves is recommended for initial reserve estimates for projects with only a little vent or production data. This approach assigns reserves that have a 90% chance or greater of actually being produced as proved reserves. Reserves that have a greater than 50% but less than 90% probability of being recovered would fall under the Probable reserves category. Possible reserves volumes should have a greater than 10% but less than 50% probability of being produced. The quality and quantity of data is key to categorizing reserves.
Project Economic Analysis and Business Planning
Raven Ridge can help a project developer to determine the economically optimum use of the resource. These uses can be pipeline injection (possibly with containment removal) or as fuel for use as a heat source or in internal combustion or turbine engines for the generation of electrical power.
Assist the Project Developer in Scheduling Projects Based on the Abandoned Mine Portfolio
Raven Ridge can provide economic forecasts for portfolio development through time given the abandoned mine portfolio. This would include capital and expense as well as cash flow analysis. This type of analysis can be generated for various project scenarios and combined with uncertainty and risk analysis to provide management with a better understanding of the options available and the range of probable outcomes for those options.