Miller and Mochen, Ltd. is a petroleum consulting company based in Houston, Texas. The firm provides services including reserves certifications, audits, and independent evaluations. They prepare evaluations according to the standards of the

United States Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

(SEC)

Regulation S-X Regulation S-X is a prescribed regulation in the United States of America that lays out the specific form and content of financial reports, specifically the financial statements of public companies. It is cited as 17 C.F.R. Part 210; the name of th ...

and the Petroleum Resources Management System (PRMS) published by the

Society of Petroleum Engineers The Society of Petroleum Engineers (SPE) is a 501(c)(3) not-for-profit professional organization whose stated mission is "to collect, disseminate, and exchange technical knowledge concerning the exploration, development and production of oil and ...

(SPE).

Current operations

Board of directors

The Chairman of the Board is Robert Oberst. The Senior Vice Presidents are Leslie Fallon and Gary Knapp.

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 London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

(LSE), and the

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...

(AIM); cash flow projections; forecasts of future prices; and estimates of

Fair Market Value The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several ...

Geology

They perform geologic studies including:

seismic Seismology (; from Ancient Greek σεισμός (''seismós'') meaning "earthquake" and -λογία (''-logía'') meaning "study of") is the scientific study of earthquakes and the propagation of elastic waves through the Earth or through other ...

studies, structural studies, stratigraphic studies, subsurface mapping, field development studies, and reservoir characterization.

Petrophysics

In addition, they perform petrophysical analyses such as

log Log most often refers to: * Trunk (botany), the stem and main wooden axis of a tree, called logs when cut ** Logging, cutting down trees for logs ** Firewood, logs used for fuel ** Lumber or timber, converted from wood logs * Logarithm, in mathe ...

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, Miller and Lents, Ltd. has performed evaluations for clients in the United States, Azerbaijan, Israel, Kazakhstan, the United Kingdom, Australia, and Lithuania, 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 An S corporation, for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Interna ...

. 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.”

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 Porosity or void fraction is a measure of the void (i.e. "empty") spaces in a material, and is a fraction of the volume of voids over the total volume, between 0 and 1, or as a percentage between 0% and 100%. Strictly speaking, some tests measure ...

,” co-authored by E.C. Thomas in 1975, he introduced the Thomas-Steiber Diagram which is still commonly used for log analysis today.

References

{{Reflist Companies based in Houston American companies established in 1948 Consulting firms established in 1948 Research and analysis firms of the United States Petroleum engineering