Miller and Lents

Miller and Lents, Ltd.Industry| petroleum consulting company

|

Headquarters| Houston, Texas

Key people

| Robert Oberst (Chairman of the Board)
Senior Vice Presidents:

* Leslie Fallon
* Gary Knapp

Services| reserves certifications
audits
independent evaluations

Miller and Lents, Ltd. is a petroleum consulting company based in Houston, Texas. The firm provides services including reserves certifications, audits, and independent evaluations.[1] They prepare evaluations according to the standards of the United States Securities and Exchange Commission (SEC) Regulation S-X and the Petroleum Resources Management System (PRMS) published by the Society of Petroleum Engineers (SPE).

## Contents

* 1 Current operations
* 1.1 Board of directors
* 1.2 Consulting activities
* 1.2.1 Reserves evaluations
* 1.2.2 Economics
* 1.2.3 Geology
* 1.2.4 Petrophysics
* 1.3 Areas of operation
* 2 History
* 3 Notable employees
* 3.1 M. Miller and M. Lents
* 3.2 S. J. Steiber
* 4 References

## Current operations

### Board of directors

The Chairman of the Board is Robert Oberst.[2]

The Senior Vice Presidents are Leslie Fallon and Gary Knapp.[citation needed]

### Consulting activities

#### Reserves evaluations

Miller and Lents, Ltd. prepares reserves estimates by applying both SEC and SPE-PRMS standards. These estimates include the assessment of developed and undeveloped reserves and classification according to Proved, Probable, Possible, Contingent, and Prospective Resources definitions.

#### Economics

They also evaluate relevant economic parameters and creates financial reports for the United States Securities and Exchange Commission (SEC), the London Stock Exchange (LSE), and the Alternative Investment Market (AIM); cash flow projections; forecasts of future prices; and estimates of Fair Market Value.

#### Geology

They perform geologic studies including: seismic studies, structural studies, stratigraphic studies, subsurface mapping, field development studies, and reservoir characterization.

#### Petrophysics

In addition, they perform petrophysical analyses such as log analysis and core analysis studies.

### Areas of operation

Miller and Lents, Ltd. provides services to domestic and international clients, with a significant portion of their business coming from clients operating in Russia. In addition to evaluations for clients operating in Russia,[3] Miller and Lents, Ltd. has performed evaluations for clients in the United States,[4] Azerbaijan,[5] Israel,[6] Kazakhstan,[7] the United Kingdom,[8] Australia,[9] and Lithuania,[10] among others.

## History

In 1948, J. R. Butler and Martin Miller formed an oil and gas consulting partnership known as J. R. Butler and Company. Max Lents, who was not a partner at the beginning of J. R. Butler and Company, was considered as an original founding partner when he joined the firm a year later. The company name then changed to Butler, Miller and Lents.

In 1970 its name was changed to Butler, Miller and Lents, Ltd., at which time it became a Subchapter S Corporation.

In 1976, the name of the firm was changed to its current name, Miller and Lents, Ltd. after J. R. Butler exchanged his interest in Butler, Miller and Lents, Ltd.

## Notable employees

### M. Miller and M. Lents

In addition to founding Miller and Lents, Ltd., Max Lents and Martin Miller made significant contributions to the field of petroleum engineering. They introduced the Miller-Lents Permeability Distribution which aids in describing the permeability of heterogeneous reservoirs and provides a “better match with actual field performance when applied to cycling operations in gas condensate reservoirs.”[11]

### S. J. Steiber

Steiber was a Petroleum Engineer with Miller and Lents, Ltd. from 1974 to 2004. He made significant contributions to the field of Petroleum Engineering and the practice of Oil and Gas Well log analysis. In his paper “The Distribution of Shale in Sandstones and its Effect upon Porosity,” co-authored by E.C. Thomas in 1975, he introduced the Thomas-Steiber Diagram which is still commonly used for log analysis today.[12]

## References

1. ↑ "Miller and Lents, Ltd.: Private Company Information - Bloomberg". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=28544251. Retrieved 4 May 2017.
2. ↑ "JPT Vol 68, No 4-April 2016 -". www.spe.org. JPT (The Society of Petroleum Engineers). https://www.spe.org/en/jpt/archive/april-2016/.. Retrieved 16 June 2016.
3. ↑ "Russia intends to save users of mineral resources from dependence on foreign auditors" (in ru). TASS (Tass Russian News Agency). 13 August 2014. http://tass.com/russia/744722. Retrieved 3 May 2017.
4. ↑ "XTO Energy Increases Reserves by 23%, Replaces 401% of 2008 Production" (in en). Oil and Gas Investor (Oil and Gas Investor). 2 March 2009. http://www.oilandgasinvestor.com/xto-energy-increases-reserves-23-replaces-401-2008-production-457166. Retrieved 4 May 2017.
5. ↑ "SOCAR proven gas reserves increase more than 2.5 times" (in ru-RU). Trend.Az. Trend News Agency. 5 September 2014. http://en.trend.az/business/energy/2308742.html. Retrieved 4 May 2017.
6. ↑ Udasin, Sharon (10 January 2017). "Drilling firm to pursue water, gas, oil projects". The Jerusalem Post | JPost.com. Jerusalem Post. http://www.jpost.com/Business-and-Innovation/Environment/Drilling-firm-to-pursue-water-gas-oil-projects-477953. Retrieved 4 May 2017.
7. ↑ "Kazakhstan's KMG EP announces new discovery in Rozhkovskoye field". Oil&Gas Eurasia. 14 May 2014. https://www.oilandgaseurasia.com/en/news/kazakhstan’s-kmg-ep-announces-new-discovery-rozhkovskoye-field. Retrieved 4 May 2017.
8. ↑ "BG Group Boosts Reserves to 2.7Bboe in Santos Basin". Rigzone. DHI Group, Inc.. 2 November 2010. http://www.rigzone.com/news/oil_gas/a/100844/BG_Group_Boosts_Reserves_to_27Bboe_in_Santos_Basin. Retrieved 4 May 2017.
9. ↑ "Moves and Promotions". www.ogj.com. Oil & Gas Journal (PennWell Corporation) (Volume 98 – Issue 8). 21 February 2000. http://www.ogj.com/articles/print/volume-98/issue-8/regular-features/services-suppliers/moves-and-promotions.html. Retrieved 3 May 2017.
10. ↑ "Lithuania: Tethys Oil reports disappointing results from Skomantai-1 well on the Gargzdai licence onshore Lithuania" (in en). www.energy-pedia.com. energy-pedia news (energy 365 Limited). 5 August 2012. https://www.energy-pedia.com/news/lithuania/new-151299. Retrieved 4 May 2017.
11. ↑ Smith, James T.; Cobb, William M. (17 Dec 1997) (in en). Waterflooding. Petroleum Recovery Research Center. pp. 5–20.
12. ↑ Thomas, E.C.; Stieber, S.J (1975). The Distribution of Shale in Sandstones and its Effect on Porosity. United States.: Society of Professional Well Log Analysts Inc..

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