Reservoir Engineering

BIOGRAPHICAL DATA

KIRT L. KEELAN, Reservoir Engineering Advisor

**** ********** ****, *******, ** 77055

cell: 832-***-****; email: **********@*****.***

PROFESSIONAL ASSOCIATIONS:

Registered Professional Engineer, State of Texas

Member, Society of Petroleum Engineers (SPE)

EXECUTIVE SUMMARY:

I have collaborated with subsurface teams to evaluate the oil and gas reserves of domestic, international, and fields in the Gulf of Mexico. I have performed economics on fields that were under primary recovery, secondary recovery, and enhanced oil recovery. I have evaluated conventional and unconventional reservoirs and have determined the economics for the acquisition and divesture of properties for clients. I have used reservoir simulation to history match well production and studied various recovery mechanisms to optimize future full field development scenarios. I have been technically challenged in court and have reviewed evaluations with the SEC and other reporting agencies when there were questions about the data or results. I have worked directly with operators and international governments to verify that the reporting of data and the regulatory requirements and policies were adhered to, so that future development and forecasts of reserves would be reasonable and reliable. I have been responsible for the reporting and documenting of oil and gas reserves during my career. I worked for investment banks, investors wanting a fair market value, and as a consultant to determine cash flow estimates.

SKILL SUMMARY:

Production Forecasting Economic Analysis Due Diligence

Enhanced Oil & Gas Recovery Waterflood Analysis Advanced Computer Skills

Optimizing Development SEC Rules PRMS Regulations

Decline Curve Analysis Acquisitions Divestitures

Reservoir Simulation History Matching Full Field Development

Integrity/Work Ethic Build Type Curves Track Well Performance

Business Development Development Planning Reserve/Contingent estimates

Volumetric Recovery Calculations Deepwater GoM Projects

ENGINEERING EXPERTISE:

Borrowing Base Loan Evaluations for the Banking Industry

Provide borrowing base analysis of Proved reserves for banks using various pricing models

Provide technical support in the analysis of oil and gas properties and occasionally midstream projects

Determination of bank pricing with commodity price hedging

Analysis of lease operating statements, lease operating expenses, and future forecasts using various banking constraints

Analyze results involving debt, equity, and combinations of both

Traditional Reservoir Engineering

Determination of reserves using volumetrics and decline curve analysis for financial

reporting using the guidelines of the SEC, the Canadian Alberta Securities Commission, the Hong Kong Stock Exchange, and SPE-PRMS

Projects include domestic and international oil fields, onshore and offshore/deepwater,

GOM, tight gas sands, conventional and unconventional reservoirs

Reservoir Simulation

Determination of reserves under various recovery mechanisms and optimizing

field development

Multi-well full field models, sector-models, and individual well models

Black oil models, and compositional models (limited) involving thermal

in-situ combustion, thermal cyclic steam injection, cyclic CO2, and WAG

Reservoir simulation experience includes using ECLIPSE and CMG software

WORK SUMMARY

CREDIT AGRICOLE CIB: February 2015 – February 2019

Director-Reservoir Engineer

Lead Engineer for the bank’s reserve-based loan determinations and providing technical support in the analysis of oil and gas properties, acquisitions and divestments, and occasionally midstream projects. The reserve-based loan evaluations include making decisions involving debt, equity, and combinations of both. Engineering due diligence was always a critical factor. Programmed several major software updates and added graphical interface for engineering analysis. Used PRMS and SEC oil and gas reporting requirements with reserve estimates, volume forecasts, expenses, cost estimates and other economic assumptions to support risk management and the business unit.

WELLS FARGO BANK: May 2014 – February 2015

Senior Petroleum Engineer

Lead Engineer for borrowing base determination on approximately 18 domestic companies and additional syndications. Determinations included new unconventional business opportunities for Wells Fargo. Used knowledge of the production and drilling process with emphasis on reservoir engineering and economic valuations to make judgements on client’s risk profile and the investment of the bank’s capital. Determination of reasonable operating costs, forecast methodology, price differentials, and future pricing trends was critical for reporting of results.

BANK of NOVA SCOTIA: March 2013 – May 2014

Petroleum Engineer

Performing borrowing base loan value determinations for over 20 domestic companies and 2 South American projects. Analysis of technical risks associated with the investment of the bank’s capital. Monitoring of actual performance versus forecast and its potential effects on financial performance. Acquisitions and divestments of wells required careful monitoring to be within policy requirements. Unconventional oil and gas shale evaluations performed in Louisiana, Texas, Oklahoma, New Mexico, and North Dakota.

RYDER SCOTT COMPANY: May 1997 – March 2013

Vice President

Experience in traditional reservoir evaluations and economic studies offshore and onshore in areas of United States, Canada, and Kazakhstan, and Russia. Evaluations include conventional and unconventional shale fields. Simulation studies include GOM water drive reservoirs, full field development scenarios, cyclic steam floods, gas storage projects, and CO2 WAG studies, and the history matching of unconventional wells to evaluate drainage, recovery factors, and ultimate recovery of reserves. Work at Ryder Scott required a multidisciplinary team environment.

Various traditional reservoir engineering and reserve studies at Ryder Scott Company

Deepwater/Offshore GOM

Gas Storage

Development/Optimization Studies

Waterflood Development/Optimization Studies

Cyclic Steam Flood Reserves

Well Blowout Studies

Various company reserves for reporting using SEC/PRMS guidelines

Enhanced oil recovery/development studies using reservoir simulation

Water-Alternating-Gas (“WAG”) CO2 Injection

Gas Injection

In-Situ Oxidation

Cyclic Steam

Cyclic CO2

Gas Storage/Development Studies

Horizontal Well Deliverability Studies

Unconventional wellbore history matching to determine drainage, recovery and ultimate reserves

GEORAPHICAL AREAS OF EXPERIENCE: Conventional and Unconventional reservoirs

NORTH AMERICA: California, Colorado, Gulf of Mexico, Louisiana, Mississippi, New Mexico, North Dakota, North Slope Alaska, Ohio, Oklahoma, and Texas

INTERNATIONAL: Colombia, Egypt, Gulf of Suez, Kazakhstan, Madagascar, Russia, Trinidad, South America, and Yemen

EDUCATION:

B.S. degree in Chemical Engineering, Texas A&M University

B.S. degree in Computer Science, University of Texas at Dallas

Industry and Company Sponsored Courses in Reservoir Engineering, Petroleum Engineering

Geostatistics, Reservoir Simulation, Well Log Evaluation, and Well Testing

CORE COMPETENCIES:

Evaluation of hydrocarbons in place, analysis of LOS/LOE and economic parameters, SEC and PRMS rules and guidelines, recoverable reserves, log analysis, SCAL, PVT data, ARIES, PhdWin, CMG, Eclipse, and proficiency with Microsoft Excel and database analysis. Experience also includes excellent verbal and written communication skills, traditional decline curve analysis, building type curves, reservoir simulation, and working in a team environment. Experience includes 30+ years in evaluations of onshore and offshore projects.

Other Areas of Proficiency:

C++ language programming – have written many windows-based programs and converted Fortran Language programs to C++.

Database literacy – proficient use of the available tools for importing data, exporting data, writing queries, and converting data to and from various databases.

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