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Proven reserves (also called measured reserves, 1P, and reserves) is a measure of fossil fuel energy reserves, such as oil and gas reserves and coal reserves. It is defined as the "quantity of energy sources estimated with reasonable certainty, from the analysis of geologic and engineering data, to be recoverable from well established or known ...
[10] [11] Proven reserves may be referred to as proven developed (PD) or as proven undeveloped (PUD). [11] [12] PD reserves are reserves that can be produced with existing wells and perforations, or from additional reservoirs where minimal additional investment (operating expense) is required (e.g. opening a set of perforations already ...
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to
CORRECTING and REPLACING ZaZa Energy Updates Proved Reserves for Eagle Ford Trend Assets Outlines Indicative 2013 Budget for Eagle Ford and Eaglebine Development HOUSTON--(BUSINESS WIRE)-- First ...
ARP to acquire approximately 35 MMboe of proved reserves and significant resource potential in the Fort Worth basin of Texas; estimated proved reserves are 24% oil, 33% natural gas liquids, 43% ...
Range Proved Reserves Increase 29% to 6.5 Tcfe FORT WORTH, Texas--(BUSINESS WIRE)-- RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that its proved reserves as of December 31, 2012 ...
Due to constant announcements of shale gas recoverable reserves, as well as drilling in Central Asia, South America, Africa, and deepwater drilling, estimates are updated frequently. Since 2000, some countries, notably the US and Canada, have seen large increases in proven gas reserves due to development of shale gas , but shale gas deposits in ...
The reserves-to-production ratio (RPR or R/P) is the remaining amount of a non-renewable resource, expressed in time.While applicable to all natural resources, the RPR is most commonly applied to fossil fuels, particularly petroleum and natural gas.