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Oil and gas reserves and resource quantification

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1117:. The amount of oil & gas recoverable from a conventional reservoir is assessed by accurately characterising the static recoverable volumes and history matching that to dynamic flow. Reservoir performance is important because the recovery changes as the physical environment of the reservoir adjusts with every molecule extracted; the longer a reservoir has been flowing, the more accurate the prediction of remaining reserves. Dynamic simulations are commonly used by analysts to update reserves volumes, particularly in large complex reservoirs. Daily production can be matched against production forecasts to establish the accuracy of simulation models based on actual volumes of recovered oil or gas. Unlike analogs or volumetric methods above, the degree of confidence in the estimates (or the range of outcomes) increases as the amount and quality of geological, engineering and production performance data increase. These must then be compared with previous estimates, whether derived from analog, volumetric or static reservoir modelling before reserves can be adjusted and booked. 1217:), gas hydrates, natural bitumen (very high viscosity oil), and oil shale (kerogen) deposits. Ultra low permeability reservoirs exhibit a half slope on a log-plot of flow-rates against time believed to be caused by drainage from matrix surfaces into adjoining fractures. Such reservoirs are commonly believed to be regionally pervasive that may be interrupted by regulatory or ownership boundaries with the potential for large oil & gas volumes, which are very hard to verify. Non-unique flow characteristics in unconventional accumulations means that commercial viability depends on the technology applied to extraction. Extrapolations from a single control point, and thereby resource estimation, are dependent on nearby producing analogs with evidence of economic viability. Under these circumstances, pilot projects may be needed to define reserves. Any other resource estimates are likely to be analog-only derived YTF volumes, which are speculative. 354:), Probable and Possible. Reserves defined as Probable and Possible are incremental (or additional) discovered volumes based on geological and/or engineering criteria similar to those used in estimating Proven reserves. Though not classified as contingent, some technical, contractual, or regulatory uncertainties preclude such reserves being classified as Proven. The most accepted definitions of these are based on those originally approved by the SPE and the WPC in 1997, requiring that reserves are discovered, recoverable, commercial and remaining based on rules governing the classification into sub-categories and the declared development project plans applied. Probable and Possible reserves may be used internally by oil companies and government agencies for future planning purposes but are not routinely or uniformly compiled. 1025:), and involve identifying areas containing producing assets that are geologically similar to those being estimated and substituting data to match what is known about a segment. The opportunity segment can be scaled to any level depending on the specific interest of the analyst, whether at a global, country, basin, structural domain, play, license or reservoir level. YTF is conceptual and is commonly used as a method for scoping potential in frontier areas where there is no oil or gas production or where new play concepts are being introduced with perceived potential. However, analog content can also be substituted for any subsurface parameters where there are gaps in data in more mature reserves or resource settings (below). 412: 33: 465: 1229: 1151:
must be made for wells shut in and production restrictions. The curve can be expressed mathematically or plotted on a graph to estimate future production. It has the advantage of (implicitly) conflating all reservoir characteristics. It requires a sufficient production history to establish a statistically significant trend, ideally when production is not curtailed by regulatory or other artificial conditions.
211:) in the subsurface of the Earth's crust. All reserve and resource estimates involve uncertainty in volume estimates (expressed below as Low, Mid or High uncertainty), as well as a risk or chance to exist in reality, depending on the level of appraisal or resource maturity that governs the amount of reliable geologic and engineering data available and the interpretation of those data. 86: 1130:
reservoir pressure that depends on the remaining volume of oil & gas. The method requires extensive pressure-volume-temperature analysis and an accurate pressure history of the field. It requires some production to occur (typically 5% to 10% of ultimate recovery), unless reliable pressure history can be used from a field with similar rock and fluid characteristics.
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reserves are frequently reported as a single Field or prospect or lead volume are defined by a single probability distribution the shape of which defines the most likely volume outcome and the volume uncertainty range (for example P50, P90, P10). Portfolio volumes similarly are estimated by combining
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PRMS, in effect, bridges the gap between western capitalist standards for reserves reporting regulated by SEC and those that serve local national interests. It provides a framework to create an inventory of resources that have the potential of becoming profitable by the implementation of development
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refers to the typical increases (but narrowing range) of estimated ultimate recovery that occur as oil & gas fields are developed and produced. Many oil-producing nations do not reveal their reservoir engineering field data and instead provide unaudited claims for their oil reserves. The numbers
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The SEC reserves have a western / capitalistic emphasis on reporting the subset of in place oil and gas resources that are expected, with high confidence, to be extracted and converted into cash in a project that is going to yield a profit. The Russian and Chinese reserve systems have an emphasis on
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of being recoverable under existing economic and political conditions, and with existing technology. Industry specialists refer to this category as "P90" (that is, having a 90% certainty of producing or exceeding the P90 volume on the probability distribution). Proven reserves are also known in the
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Reserve estimates are required by authorities and companies, and are primarily made to support operational or investment decision-making by companies or organisations involved in the business of developing and producing oil and gas. Reserve volumes are necessary to determine the financial status of
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The probabilities associated with the 1P, 2P and 3P reserve categories represent the chance to deliver or exceed the volumes declared. Perhaps counterintuitively these probabilities or chances decrease as the stated volumes increase and as such correspond to a decreasing confidence that the higher
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Accounting for production is an important exercise for businesses. Produced oil or gas that has been brought to surface (production) and sold on international markets or refined in-country are no longer reserves and are removed from the booking and company balance sheets. Until January 2010, "1P"
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is an extrapolation of known production data to fit a decline curve and estimate future oil & gas production. The three most common forms of decline curves are exponential, hyperbolic, and harmonic. It is assumed that the production will decline on a reasonably smooth curve, and so allowances
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do not disclose verifying data publicly. Since January 2010 the SEC now allows companies to also provide additional optional information declaring 2P (both proven and probable) and 3P (proven plus probable plus possible) with discretionary verification by qualified third party consultants, though
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in general. However, the level of rigor required in applying these terms varies depending on the resource maturity which informs reporting requirements. Oil & gas reserves are resources that are, or are reasonably certain to be, commercial (i.e. profitable). Reserves are the main asset of an
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for an oil or gas field uses an equation that relates the volume of oil, water and gas that has been produced from a reservoir and the change in reservoir pressure to calculate the remaining oil & gas. It assumes that, as fluids from the reservoir are produced, there will be a change in the
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have increased the accuracy of these estimation techniques, significant uncertainties still remain, which are expressed as a range of potential recoverable oil & gas quantities using probabilistic methods. In general, most early estimates of the reserves of an oil or gas field (rather than
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additional reserves are attributed to known accumulations that have a lower chance of being recovered than probable reserves. Reasons for assigning a lower probability to recovering Possible reserves include varying interpretations of geology, uncertainty due to reserve infill (associated with
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with range of uncertainty from L, M, H and further sub-classified below based on project maturity and/or economic status (e.g 1C, 2C, 3C). In addition, each reserve class carries a risk, or chance to exist in reality (POS or COS) which is based on the amount and quality of available evidence.
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Once production has commenced, production rates and pressure data allow a degree of prediction on reservoir performance, which was previously characterized by substituting analog data. Analog data can still be substituted for expected reservoir performance where specific dynamic data may be
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Appropriate external reporting of resources and reserves is required from publicly traded companies, and is an accounting process governed by strict definitions and categorisation administered by authorities regulating the stock market and complying with governmental legal requirements. Other
327:. Contingent and prospective resource estimates are much more speculative and are not booked with the same degree of rigor, generally for internal company use only, reflecting a more limited data set and assessment maturity. If published externally, these volumes add to the perception of 623:
is determined by resource maturity. There are three main categories of technique, which are used through resource maturation to differing degrees: analog (substitution), volumetric (static) and performance-based (dynamic), which are combined to help fill gaps in knowledge or data. Both
335:. The PRMS provides a framework for a consistent approach to the estimation process to comply with reporting requirements of particularly, listed companies. Energy companies may employ specialist, independent, reserve valuation consultants to provide third party reports as part of 108:). These schemes provide management and investors with the means to make quantitative and relative comparisons between assets, before underwriting the significant cost of exploring for, developing and extracting those accumulations. Classification schemes are used to categorize the 349:
Reserves reporting of discovered accumulations is regulated by tight controls for informed investment decisions to quantify differing degrees of uncertainty in recoverable volumes. Reserves are defined in three sub-categories according to the system used in the PRMS: Proven
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are much more tightly bound to rock matrices in excess of capillary forces and therefore require different approaches to both extraction and resource estimation. Unconventional reservoirs or accumulations also require different means of identification and include
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The categories and estimation techniques framed by the PRMS above apply to conventional reservoirs, where oil & gas accumulations are controlled by hydrodynamic interactions between the buoyancy of oil & gas in water versus capillary forces. Oil or gas in
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in volume estimates of the recoverable oil and gas and the chance that they exist in reality (or risk that they do not) depending on the resource maturity. Potential subsurface oil and gas accumulations identified during exploration are classified and reported as
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converts volumes at reservoir conditions (high pressure and high temperature) to storage and sale conditions, and is defined the volume of oil (and dissolved gas) at reservoir pressure and temperature required to produce one stock tank barrel of oil at the
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calculation methods are commonly used to calculate resource volumes, with deterministic methods predominantly applied to reserves estimation (low uncertainty) and probabilistic methods applied to general resource estimation (high uncertainty).
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Estimating and monitoring of reserves provides an insight into, for example, a company's future production and a country's oil & gas supply potential. As such, reserves are an important means of expressing value and longevity of resources.
61:) that can be profitably produced/recovered from an approved development. Oil and gas reserves tied to approved operational plans filed on the day of reserves reporting are also sensitive to fluctuating global market pricing. The remaining 1071:. Static models and dynamic flow models can be populated with analog reservoir performance data to increase the confidence in forecasting as the amount and quality of static geoscientific and dynamic reservoir performance data increase. 437:
variability in seepage towards a production well from adjacent areas) and projected reserves based on future recovery methods. The probabilistic, cumulative sum of proven, probable and possible reserves is referred to in the industry as "
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Analogs are applied to prospective resources in areas where there are little, or sometimes no, existing data available to inform analysts about the likely potential of an opportunity or play segment. Analog-only techniques are called
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creating an inventory of oil and gas in place that have a potential of future exploitation to meet their national needs. Profitable extraction is convenient and appreciated, but not always a requirement for their national interests.
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Naturally the highest chance (lowest risk) is associated with proven reserves (fields with wells and production tests) and the lowest chance (highest risk) is associated with undrilled prospects and leads where data is more sparse
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on one or more conditions changing. The uncertainty in the estimates for recoverable oil & gas volumes is expressed in a probability distribution and is sub-classified based on project maturity and/or economic status
524:, being undiscovered, have the widest range in volume uncertainties and carry the highest risk or chance to be present in reality (POS or COS). At the exploration stage (before discovery) they are categorized by the wide 472:, probability, (P95 and often referred to in the industry as F95) of at least volume V1 of economically recoverable oil, and there is a 5% chance (P05 or F05) of at least volume V2 of economically recoverable oil. 1159:
Experience shows that initial estimates of the size of newly discovered oil & gas fields are usually too low. As years pass, successive estimates of the ultimate recovery of fields tend to increase. The term
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The combination of geological, geophysical and technical engineering constraints means that the quantification of volumes is usually undertaken by integrated technical, and commercial teams composed primarily of
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are also characterized by volumetric methods with analog content and uncertainty distributions before significant production has occurred, where spatial distribution information may be preserved in a static
65:(after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently 397:
were the only type the U.S. SEC allowed oil companies to report to investors. Companies listed on U.S. stock exchanges may be called upon to verify their claims confidentially, but many governments and
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uncertainty is expressed as a probabilistic range, which includes the chance or risk that hydrocarbons are absent. The combined most likely risked volume outcome, or chance-weighted mean, is called
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additional reserves are attributed to known accumulations and the probabilistic, cumulative sum of proven and probable reserves (with a probability of P50), also referred to in the industry as "
385:(PUD). 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 ( 2316:
resource holders are the legal owners of subsurface oil and gas resources and are commonly represented by the Governments of the day who own the mineral rights for oil and/or gas extraction
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Classification summary featuring volumes uncertainty (low, mid or high) with increasing chance for an accumulation to exist and be commercial upwards reflecting greater resource maturity
457:, by definition, does not have to be technically or commercially recoverable and can be represented by a single, or an aggregate of multiple potential accumulations, e.g. an estimated 2338:
the definitions and guidelines contained in this article must not be construed as modifying the interpretation or application of any existing regulatory reporting requirements
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again reflecting the degrees of uncertainty. Companies are commonly not required to report publicly their views of prospective resources but may choose to do so voluntarily.
172:(SEC) reporting requirements which shares many elements with PRMS. Attempts have also been made to standardize more generalized methodologies for the reporting of national or 389:
opening a set of perforations already installed). PUD reserves require additional capital investment (e.g., drilling new wells) to bring the oil and/or gas to the surface.
1604: 1292: 629: 73:(BOE). Consequently, both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as 426:" (Proven plus Probable) The P50 designation means that there should be at least a 50% chance that the actual volumes recovered will be equal to or will exceed the 2129: 1936: 2514:
individual probability distributions taking into account interdependencies between portfolio elements (i.e not a simple addition of β€˜most likely volume’)
144:), which summarizes a consistent approach to estimating oil and gas quantities within a comprehensive classification framework, jointly developed by the 125:, at the point when a sufficient accumulation of commercial oil and/or gas are proven by drilling, with authorized and funded development plans to begin 1034: 1528: 1364: 1008:
national or industry bodies may voluntarily report resources and reserves but are not required to follow the same strict definitions and controls.
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the company, which may be obliged to report those estimates to shareholders and "resource holders" at the various stages of resource maturation.
104:, detailed classification schemes have been devised by industry specialists to quantify volumes of oil and gas accumulated underground (known as 1652: 1788:
Quirk, DG; Howe, MJ; Archer, SG (July 2017). "A Combined Deterministic-Probabilistic Method of Estimating Undiscovered Hydrocarbon Resources".
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An example of a Volume Uncertainty Distribution, with the P10, P50 and P90 volumes indicated (created using a probabilistic calculation method)
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disclosed by some national governments are suspected of being manipulated for political reasons. In order to achieve international goals for
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Flaring a flow test, the first outward indication of a new oil or gas discovery, which has the potential to qualify for reserves assessment
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said in 2021 that countries should no longer expand exploration or invest in projects to expand reserves to meet climate goals set by the
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Schematic graph illustrating petroleum volumes and probabilities. Curves represent categories of oil in assessment. There is a 95% chance
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volumes are calculations when uncertainty distributions are applied as input to all or some of the terms of the equation (see also
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Recoverable volume = Gross Rock Volume * Net/Gross * Porosity * Oil or Gas Saturation * Recovery Factor / Formation Volume Factor
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volumes are calculated when single values are used as input parameters to this equation, which could include analog content.
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CIPC/SPE Gas Technology Symposium 2008 Joint Conference: Rate Transient Analysis in Naturally Fractured Shale Gas Reservoirs
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projects. Rather than focusing on in-place volumes, it is focused on the volumes that may ultimately be extracted.
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Resource estimates are undiscovered volumes, or volumes that have not yet been drilled and flowed to surface. A
458: 328: 161: 145: 441:" (proven plus probable plus possible) where there is a 10% chance of delivering or exceeding the P10 volume.( 2733: 1058:), which preserve dependencies between parameters. These geostatistical methods are most commonly applied to 620: 2396: 1262: 17: 2428:
determined by the legislative requirements and legal framework of the host Country outwith SEC regulations
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e.g. stock market price, financial investment, technical innovations, market innovation or fiscal easing
1983:"Fossil fuel reserves and resources reporting and unburnable carbon: Investigating conflicting accounts" 306:, the terms 'Resources' and 'Reserves' have distinct and specific meaning with respect to oil & gas 196: 2728: 2571: 1297: 2409:
e.g. internal reporting or external, public announcements and balance sheet disclosure to shareholders
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United Nations Resource Management System: An overview of concepts, objectives and requirements
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conventional reservoirs are characterised by buoyancy of oil, gas and water, estimated using
1098: 996: 625: 1831: 1753: 1713: 600:), which is determined by a combination of subsurface geology and the technology applied to 2206: 1797: 1317: 1089: 399: 8: 1068: 984: 557: 136:
Currently, the most widely accepted classification and reporting methodology is the 2018
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Jones, A.D.; Denelle, F.R.; Lee, W.J.; MacDonald, D.G.; Seiller, B.J. (19 July 2016).
1575:. Sustainable Development Goals. United Nations Economic Commission for Europe. 2021. 2698: 2486:
the technically recoverable volume at a given set of market conditions is called the
2260: 2108: 2033: 2018: 1817: 1765: 1754: 1725: 1714: 1685: 1576: 1404: 513:) and in addition are assigned a risk, or chance, to exist in reality (POS or COS). 2252: 2141: 2078: 2034:"An Estimate of Undiscovered Conventional Oil and Gas Resources of the World, 2012" 2004: 1994: 1867: 1805: 173: 165: 1981:
Bebbington, Jan; Schneider, Thomas; Stevenson, Lorna; Fox, Alison (January 2020).
1426:"Reserve Recognition Under Production-Sharing and Other Nontraditional Agreements" 168:
that register securities in the U.S. market must report proved reserves under the
2130:"Net Pay β€” What Is It? What Does It Do? How Do We Quantify It? How Do We Use It?" 1910: 1344: 1334: 1277: 1174: 1166: 592:
of any kind. The ratio between in place and recoverable volumes is known as the
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reservoir rock occupied by pores (typically 5-35% for a conventional reservoir)
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the argument being β€œif it works in this part of the world, then why not here?”
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is defined as the volume of rock contained geometrically within conventional
2067:"The Use of Reservoir Simulation in Deterministic Proved-Reserves Estimation" 1716:
Nontechnical Guide to Petroleum Geology, Exploration, Drilling and Production
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Estimation techniques applied with decreasing resource maturity to the right
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Once a discovery has been made, prospective resources can be reclassified as
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many companies choose to use 2P and 3P estimates only for internal purposes.
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must be used to estimate the size and recoverability of the resource. While
2542: 1247: 1114: 584:), and it is only this producible fraction that is considered to be either 566: 561: 332: 2107:(2 ed.). UK, USA & Australia: Blackwell Publishing. p. 153. 464: 1359: 1257: 316: 109: 105: 52: 2675:, including many charts and graphs on the world's energy supply and use 2630:) is defined as the percentage of pore space occupied by oil and/or gas 2171:
Guidelines for Application of the Petroleum Resources Management System
2009: 608:, in order to avoid confusion, it should be clarified whether they are 532:). In the PRMS the range of volumes is classified by the abbreviations 2256: 2145: 2082: 1809: 48: 2246: 27:
Industry concept of crude oil and natural gas reserves and resources
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Estimates for recoverable oil & gas volumes are expressed as a
1282: 90: 2646:) is defined as the ratio between in-place and recoverable volumes 1228: 988: 2295:
a term commonly used to identify discoveries or producing fields
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that has the lithological potential for being a productive zone
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whether proven (low uncertainty) or unproven (high uncertainty)
2221:"End new oil, gas and coal funding to reach net zero, says IEA" 1980: 94: 85: 1865: 331:, which in turn can influence oil & gas company share or 2655:
Oil shrinks and gas expands when brought to the surface. The
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the larger the segment, the greater the degree of speculation
1913:. SPEE. Society of Petroleum Evaluators Engineers. p. 46 1403:(1.01 ed.). Society of Petroleum Engineers. p. 52. 1110: 1756:
Standard Handbook Of Petroleum & Natural Gas Engineering
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Example of a production decline curve for an individual well
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Bello, Rasheed O.; Wattenbarger, Robert A. (16 June 2008).
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Energy Supply page on the Global Education Project website
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List of acronyms in oil and gas exploration and production
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with oil directly and gas reserves are commonly quoted in
1911:"Annual Survey of Parameters Used in Property Evaluation" 368:
Proven reserves are discovered volumes claimed to have a
2064: 1646:"Glossary of Terms Used in Petroleum Reserves/Resources" 1499:"Global Resource Classification Systems for Oil and Gas" 1401:
Petroleum Resource Management System (revised June 2018)
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SEC does not allow reporting of undiscovered resources
1679: 1651:. Society of Petroleum Engineers. 2005. Archived from 1614:. Society of Petroleum Engineers. 1997. Archived from 1937:"The Intricate Puzzle of Oil and Gas Reserves Growth" 1506:
United Nations Economic Commission for Europe (UNECE)
1469:"Petroleum Resources Classification and Definitions" 1224: 2447:NOTE: SEC discourages the aggregation of estimates 1934: 1435:. Society of Petroleum Engineers. pp. 111–130 1133: 1080:missing, representing a "best technical" outcome. 179: 2244: 1000:resource estimates) are conservative and tend to 987:, surface engineers and economists. Because the 406: 341:filings for either reserves or resource booking. 2685: 1365:List of countries by natural gas proven reserves 1062:that still need to be tested by the drill bit. 2102: 1787: 1680:Wright, Charlotte J.; Rebecca A Gallun (2008). 1640: 1638: 1636: 1508:. United Nations Economic Commission for Europe 1478:. Society of Petroleum Engineers. pp. 7–11 991:of the subsurface cannot be examined directly, 476:There are two non-reserve resource categories: 2173:. Society of Petroleum Engineers. p. 222. 2103:Gluyas, Jon G.; Swarbrick, Richard E. (2021). 2060: 2058: 1423: 556:) of oil and/or gas contained in a subsurface 323:is the process by which they are added to the 2105:Petroleum Geoscience, 2nd edition (paperback) 580:oil & gas can be brought to the surface ( 2618:(inversely measured as the water saturation 1930: 1928: 1633: 1180: 1074: 154:American Association of Petroleum Geologists 2164: 2162: 2127: 2055: 1120: 1037:can be calculated using a volume equation: 576:respectively). However, only a fraction of 2374:uccess (POS) sometimes called the COS or 2071:SPE Reservoir Evaluation & Engineering 1942:. U.S. Energy Information Administration. 1684:(5 ed.). PenWell Books. p. 750. 1394: 1392: 1390: 1388: 1386: 1384: 2545:flow in subsurface, which contrasts with 2008: 1998: 1925: 1760:. Gulf Professional Publishing. pp.  1747: 1745: 1743: 1741: 1675: 1673: 1424:McMichael, Claude L; Young, E.D. (2001). 1371:References, notes and working definitions 1113:(typically, oil, water, and gas) through 377:. Proven reserves may be referred to as 158:Society of Petroleum Evaluation Engineers 2586:discounts non-reservoir portions of the 2218: 2159: 1868:"MODERNIZATION OF OIL AND GAS REPORTING" 1682:Fundamentals of Oil & Gas Accounting 1529:"World Oil and Gas Resource Assessments" 1350:List of countries by proven oil reserves 1187:Unconventional (oil & gas) reservoir 1137: 547: 516: 463: 410: 176:level oil and gas resource assessments. 84: 31: 1832:"Petroleum Resources Management System" 1707: 1705: 1703: 1701: 1381: 1083: 479: 14: 2686: 2555: 1834:. Society of Petroleum Engineers. 2007 1783: 1781: 1738: 1670: 1355:World energy resources and consumption 1011: 2679:Oil reserves (most recent) by country 2128:Worthington, Paul F. (October 2010). 1751: 1612:Petroleum Resources Management System 1205:(low permeability), low permeability 448: 138:petroleum resources management system 2602:is defined as the percentage of the 2358: 2356: 2354: 1908: 1866:Securities and Exchange Commission. 1824: 1711: 1698: 1466: 1028: 2168: 1987:Critical Perspectives on Accounting 1778: 1398: 1273:Global strategic petroleum reserves 24: 2031: 1949:from the original on 6 August 2010 1308:List of oilfield service companies 1154: 357: 170:Securities and Exchange Commission 129:within a recommended five years. 25: 2750: 2666: 2351: 2041:World Petroleum Resources Project 1720:. PennWell Corporation. pp.  636: 560:, is called oil or gas initially 214: 117:. Resources are re-classified as 80: 1605:"Petroleum Reserves Definitions" 1533:United States Geological Society 1526: 1227: 604:. When reporting oil & gas 2649: 2633: 2609: 2593: 2577: 2561: 2535: 2526: 2517: 2507: 2480: 2471: 2459: 2450: 2441: 2431: 2422: 2412: 2403: 2389: 2341: 2238: 2212: 2199: 2177: 2121: 2096: 2025: 1974: 1961: 1902: 1889: 1859: 1846: 1597: 1560: 1547: 1520: 1496: 1490: 1134:Production decline curve method 180:Reserves and resource reporting 2332: 2319: 2310: 2298: 2289: 2219:Chestney, Nina (18 May 2021). 1460: 1447: 1417: 619:The appropriate technique for 552:The total estimated quantity ( 407:Probable and possible reserves 162:Society of Economic Geologists 146:Society of Petroleum Engineers 13: 1: 2549:dominated by capillary forces 1375: 526:range of volume uncertainties 1790:Journal of Petroleum Geology 1553:McMichael and Young (2001), 1263:Probability density function 853:Dynamic reservoir simulation 289: 284: 279: 269: 264: 259: 249: 244: 239: 188:refers to known (discovered 7: 2497:Estimated ultimate recovery 1935:David F. Morehouse (1997). 1323:Estimated ultimate recovery 1268:Copula (probability theory) 1220: 1213:) and tight oil (including 1171:International Energy Agency 1056:Copula (probability theory) 1033:Oil & gas volumes in a 344: 102:mineral resource estimation 10: 2755: 1752:Lyons, William C. (2005). 1298:List of natural gas fields 1184: 1087: 941: 911: 882: 851: 817: 781: 745: 713: 682: 361: 2547:unconventional reservoirs 2438:volumes can be delivered. 2000:10.1016/j.cpa.2019.04.004 1194:unconventional reservoirs 1181:Unconventional reservoirs 1075:Performance-based methods 717:(With segment production) 674: 671: 668: 665: 662: 659: 656: 653: 650: 647: 644: 231: 228: 225: 222: 71:barrels of oil equivalent 2628:1-hydrocarbon saturation 2397:probability distribution 2283: 2187:. moneyterms.co.uk. 2008 1712:Hyne, Norman J. (2001). 1127:materials balance method 1121:Materials balance method 1105:are used to predict the 939:Unconventional reservoir 1467:Ross, James G. (2001). 1243:Extraction of petroleum 819:Static reservoir models 686:(No segment production) 312:hydrocarbon exploration 150:World Petroleum Council 2724:Industries (economics) 2616:hydrocarbon saturation 2209:, 2011, Harper Collins 2134:SPE Res Eval & Eng 1585:. ECE Energy Series 68 1253:Decline curve analysis 1143: 1045: 1035:conventional reservoir 913:Decline curve analysis 473: 416: 400:national oil companies 97: 37: 2185:"Proven Oil Reserves" 1329:Energy and resources: 1141: 1099:reservoir engineering 1060:prospective resources 1039: 548:Estimation techniques 522:Prospective resources 517:Prospective resources 467: 414: 317:oil & gas company 277:Prospective Resources 115:prospective resources 88: 35: 2734:Petroleum production 2207:Leah McGrath Goodman 1318:Stranded gas reserve 1148:decline curve method 1095:Reservoir simulation 1090:Reservoir simulation 1084:Reservoir simulation 1064:Contingent resources 985:subsurface engineers 783:Probabilistic models 621:resource estimations 486:contingent resources 480:Contingent resources 455:non-reserve resource 370:reasonable certainty 257:Contingent Resources 41:Oil and gas reserves 2556:Working definitions 1802:2017JPetG..40..217Q 1012:Analog (YTF) method 993:indirect techniques 641: 219: 199:of oil and/or gas ( 2739:Natural gas fields 2714:Petroleum industry 2709:Resource economics 1909:SPEE (June 2019). 1303:List of oil fields 1288:Petroleum Industry 1203:basin-centered gas 1144: 474: 449:Resource estimates 417: 383:proven undeveloped 98: 63:resource estimates 38: 2729:Petroleum geology 2488:ultimate recovery 2266:978-1-55563-179-6 2257:10.2118/114591-MS 2146:10.2118/123561-PA 2083:10.2118/170669-PA 1810:10.1111/jpg.12674 1691:978-1-59370-137-6 1582:978-92-1-117259-1 1410:978-1-61399-660-7 1029:Volumetric method 976: 975: 849:Performance-based 640: 296: 295: 218: 16:(Redirected from 2746: 2661: 2653: 2647: 2637: 2631: 2613: 2607: 2597: 2591: 2581: 2575: 2565: 2550: 2539: 2533: 2530: 2524: 2521: 2515: 2511: 2505: 2484: 2478: 2475: 2469: 2463: 2457: 2454: 2448: 2445: 2439: 2435: 2429: 2426: 2420: 2416: 2410: 2407: 2401: 2393: 2387: 2360: 2349: 2345: 2339: 2336: 2330: 2323: 2317: 2314: 2308: 2302: 2296: 2293: 2278: 2277: 2275: 2273: 2251:. Calgary: SPE. 2242: 2236: 2235: 2233: 2231: 2216: 2210: 2203: 2197: 2196: 2194: 2192: 2181: 2175: 2174: 2166: 2157: 2156: 2154: 2152: 2125: 2119: 2118: 2100: 2094: 2093: 2091: 2089: 2062: 2053: 2052: 2050: 2048: 2038: 2029: 2023: 2022: 2012: 2002: 1978: 1972: 1965: 1959: 1958: 1956: 1954: 1948: 1941: 1932: 1923: 1922: 1920: 1918: 1906: 1900: 1893: 1887: 1886: 1884: 1882: 1872: 1863: 1857: 1850: 1844: 1843: 1841: 1839: 1828: 1822: 1821: 1785: 1776: 1775: 1759: 1749: 1736: 1735: 1719: 1709: 1696: 1695: 1677: 1668: 1667: 1665: 1663: 1657: 1650: 1642: 1631: 1630: 1628: 1626: 1620: 1609: 1601: 1595: 1594: 1592: 1590: 1574: 1564: 1558: 1551: 1545: 1544: 1542: 1540: 1524: 1518: 1517: 1515: 1513: 1503: 1494: 1488: 1487: 1485: 1483: 1473: 1464: 1458: 1451: 1445: 1444: 1442: 1440: 1430: 1421: 1415: 1414: 1396: 1237: 1232: 1231: 997:new technologies 945:(rate transient) 884:Material balance 642: 638: 635: 459:geological basin 379:proven developed 220: 216: 213: 166:Public companies 21: 2754: 2753: 2749: 2748: 2747: 2745: 2744: 2743: 2704:Oil exploration 2684: 2683: 2669: 2664: 2654: 2650: 2640:Recovery Factor 2638: 2634: 2614: 2610: 2598: 2594: 2582: 2578: 2566: 2562: 2558: 2553: 2540: 2536: 2531: 2527: 2522: 2518: 2512: 2508: 2485: 2481: 2476: 2472: 2464: 2460: 2455: 2451: 2446: 2442: 2436: 2432: 2427: 2423: 2417: 2413: 2408: 2404: 2394: 2390: 2362:expressed as a 2361: 2352: 2346: 2342: 2337: 2333: 2327:proved reserves 2324: 2320: 2315: 2311: 2303: 2299: 2294: 2290: 2286: 2281: 2271: 2269: 2267: 2243: 2239: 2229: 2227: 2217: 2213: 2204: 2200: 2190: 2188: 2183: 2182: 2178: 2167: 2160: 2150: 2148: 2126: 2122: 2115: 2101: 2097: 2087: 2085: 2063: 2056: 2046: 2044: 2036: 2030: 2026: 1979: 1975: 1966: 1962: 1952: 1950: 1946: 1939: 1933: 1926: 1916: 1914: 1907: 1903: 1894: 1890: 1880: 1878: 1870: 1864: 1860: 1851: 1847: 1837: 1835: 1830: 1829: 1825: 1786: 1779: 1772: 1750: 1739: 1732: 1710: 1699: 1692: 1678: 1671: 1661: 1659: 1655: 1648: 1644: 1643: 1634: 1624: 1622: 1618: 1607: 1603: 1602: 1598: 1588: 1586: 1583: 1572: 1566: 1565: 1561: 1552: 1548: 1538: 1536: 1525: 1521: 1511: 1509: 1501: 1495: 1491: 1481: 1479: 1471: 1465: 1461: 1452: 1448: 1438: 1436: 1428: 1422: 1418: 1411: 1397: 1382: 1378: 1373: 1345:Energy security 1335:Proven reserves 1278:Oil exploration 1233: 1226: 1223: 1199:coalbed methane 1189: 1183: 1175:Paris Agreement 1167:decarbonisation 1157: 1155:Reserves growth 1136: 1123: 1103:computer models 1092: 1086: 1077: 1069:reservoir model 1031: 1014: 594:recovery factor 550: 519: 482: 451: 409: 395:proven reserves 366: 364:Proven reserves 360: 358:Proven reserves 347: 223:RESOURCE CLASS 182: 160:(SPEE) and the 83: 28: 23: 22: 15: 12: 11: 5: 2752: 2742: 2741: 2736: 2731: 2726: 2721: 2716: 2711: 2706: 2701: 2696: 2682: 2681: 2676: 2668: 2667:External links 2665: 2663: 2662: 2648: 2632: 2608: 2592: 2576: 2559: 2557: 2554: 2552: 2551: 2534: 2525: 2516: 2506: 2479: 2470: 2458: 2449: 2440: 2430: 2421: 2411: 2402: 2388: 2350: 2340: 2331: 2318: 2309: 2297: 2287: 2285: 2282: 2280: 2279: 2265: 2237: 2211: 2198: 2176: 2158: 2140:(5): 812–822. 2120: 2114:978-1405199605 2113: 2095: 2077:(3): 358–366. 2054: 2024: 1973: 1960: 1924: 1901: 1888: 1858: 1845: 1823: 1796:(3): 217–248. 1777: 1770: 1737: 1730: 1697: 1690: 1669: 1658:on 27 May 2008 1632: 1621:on 27 May 2008 1596: 1581: 1559: 1546: 1519: 1497:UNECE (2019). 1489: 1459: 1446: 1416: 1409: 1379: 1377: 1374: 1372: 1369: 1368: 1367: 1362: 1357: 1352: 1347: 1342: 1340:Resource curse 1337: 1326: 1325: 1320: 1315: 1313:Petroleum play 1310: 1305: 1300: 1295: 1290: 1285: 1280: 1275: 1270: 1265: 1260: 1255: 1250: 1245: 1239: 1238: 1222: 1219: 1185:Main article: 1182: 1179: 1162:reserve growth 1156: 1153: 1135: 1132: 1122: 1119: 1097:is an area of 1088:Main article: 1085: 1082: 1076: 1073: 1030: 1027: 1013: 1010: 1002:grow with time 974: 973: 970: 967: 964: 961: 958: 955: 952: 949: 946: 940: 936: 935: 933: 931: 929: 927: 925: 923: 921: 918: 915: 910: 907: 906: 904: 902: 900: 898: 896: 894: 892: 889: 886: 881: 878: 877: 875: 873: 871: 869: 867: 864: 861: 858: 855: 850: 846: 845: 843: 841: 839: 836: 833: 830: 827: 824: 821: 816: 813: 812: 809: 806: 803: 800: 797: 794: 791: 788: 785: 780: 777: 776: 773: 770: 767: 764: 761: 758: 755: 752: 749: 744: 740: 739: 736: 733: 730: 728: 726: 724: 722: 720: 718: 712: 709: 708: 705: 702: 699: 697: 695: 693: 691: 689: 687: 681: 677: 676: 673: 670: 667: 664: 661: 658: 655: 652: 649: 646: 549: 546: 518: 515: 481: 478: 450: 447: 408: 405: 362:Main article: 359: 356: 346: 343: 294: 293: 288: 283: 278: 274: 273: 268: 263: 258: 254: 253: 248: 243: 238: 234: 233: 230: 227: 224: 184:An oil or gas 181: 178: 100:As with other 82: 81:Quantification 79: 47:quantities of 26: 9: 6: 4: 3: 2: 2751: 2740: 2737: 2735: 2732: 2730: 2727: 2725: 2722: 2720: 2717: 2715: 2712: 2710: 2707: 2705: 2702: 2700: 2697: 2695: 2692: 2691: 2689: 2680: 2677: 2674: 2671: 2670: 2658: 2652: 2645: 2641: 2636: 2629: 2625: 2621: 2617: 2612: 2605: 2601: 2596: 2589: 2585: 2580: 2573: 2569: 2564: 2560: 2548: 2544: 2538: 2529: 2520: 2510: 2503: 2499: 2498: 2493: 2489: 2483: 2474: 2468: 2462: 2453: 2444: 2434: 2425: 2415: 2406: 2398: 2392: 2385: 2381: 2377: 2373: 2369: 2365: 2359: 2357: 2355: 2344: 2335: 2328: 2325:usually only 2322: 2313: 2306: 2301: 2292: 2288: 2268: 2262: 2258: 2254: 2250: 2249: 2241: 2226: 2222: 2215: 2208: 2202: 2186: 2180: 2172: 2165: 2163: 2147: 2143: 2139: 2135: 2131: 2124: 2116: 2110: 2106: 2099: 2084: 2080: 2076: 2072: 2068: 2061: 2059: 2042: 2035: 2028: 2020: 2016: 2011: 2006: 2001: 1996: 1992: 1988: 1984: 1977: 1970: 1967:Ross (2001), 1964: 1945: 1938: 1931: 1929: 1912: 1905: 1898: 1892: 1876: 1869: 1862: 1855: 1849: 1833: 1827: 1819: 1815: 1811: 1807: 1803: 1799: 1795: 1791: 1784: 1782: 1773: 1771:9780750677851 1767: 1763: 1758: 1757: 1748: 1746: 1744: 1742: 1733: 1731:9780878148233 1727: 1723: 1718: 1717: 1708: 1706: 1704: 1702: 1693: 1687: 1683: 1676: 1674: 1654: 1647: 1641: 1639: 1637: 1617: 1613: 1606: 1600: 1584: 1578: 1571: 1570: 1563: 1556: 1550: 1534: 1530: 1523: 1507: 1500: 1493: 1477: 1470: 1463: 1456: 1450: 1434: 1427: 1420: 1412: 1406: 1402: 1395: 1393: 1391: 1389: 1387: 1385: 1380: 1366: 1363: 1361: 1358: 1356: 1353: 1351: 1348: 1346: 1343: 1341: 1338: 1336: 1333: 1332: 1331: 1330: 1324: 1321: 1319: 1316: 1314: 1311: 1309: 1306: 1304: 1301: 1299: 1296: 1294: 1291: 1289: 1286: 1284: 1281: 1279: 1276: 1274: 1271: 1269: 1266: 1264: 1261: 1259: 1256: 1254: 1251: 1249: 1246: 1244: 1241: 1240: 1236: 1235:Energy portal 1230: 1225: 1218: 1216: 1212: 1208: 1204: 1200: 1195: 1188: 1178: 1176: 1172: 1168: 1163: 1152: 1149: 1140: 1131: 1128: 1118: 1116: 1112: 1108: 1104: 1100: 1096: 1091: 1081: 1072: 1070: 1065: 1061: 1057: 1053: 1052:Probabilistic 1049: 1048:Deterministic 1044: 1043: 1038: 1036: 1026: 1024: 1020: 1009: 1005: 1003: 998: 994: 990: 986: 982: 981:geoscientists 971: 968: 965: 962: 959: 956: 953: 950: 947: 944: 938: 937: 934: 932: 930: 928: 926: 924: 922: 919: 916: 914: 909: 908: 905: 903: 901: 899: 897: 895: 893: 890: 887: 885: 880: 879: 876: 874: 872: 870: 868: 865: 862: 859: 856: 854: 848: 847: 844: 842: 840: 837: 834: 831: 828: 825: 822: 820: 815: 814: 810: 807: 804: 801: 798: 795: 792: 789: 786: 784: 779: 778: 774: 771: 768: 765: 762: 759: 756: 753: 750: 748: 747:Deterministic 742: 741: 737: 734: 731: 729: 727: 725: 723: 721: 719: 716: 711: 710: 706: 703: 700: 698: 696: 694: 692: 690: 688: 685: 679: 678: 643: 634: 631: 630:deterministic 627: 626:probabilistic 622: 617: 615: 611: 607: 603: 599: 595: 591: 587: 583: 579: 575: 574: 569: 568: 563: 559: 555: 545: 543: 539: 535: 531: 527: 523: 514: 512: 508: 504: 500: 495: 491: 487: 477: 471: 466: 462: 460: 456: 446: 444: 440: 435: 431: 429: 425: 421: 413: 404: 401: 396: 390: 388: 384: 380: 376: 371: 365: 355: 353: 342: 340: 339: 334: 330: 326: 325:balance sheet 322: 318: 313: 309: 308:accumulations 305: 300: 292: 287: 282: 276: 275: 272: 267: 262: 256: 255: 252: 247: 242: 236: 235: 221: 212: 210: 206: 203:undiscovered 202: 198: 197:accumulations 195: 191: 187: 177: 175: 171: 167: 163: 159: 155: 151: 147: 143: 139: 134: 130: 128: 124: 120: 116: 111: 107: 103: 96: 92: 87: 78: 76: 75:oil & gas 72: 68: 64: 60: 59: 54: 50: 46: 42: 34: 30: 19: 2719:Fossil fuels 2694:Oil reserves 2656: 2651: 2643: 2639: 2635: 2627: 2623: 2619: 2615: 2611: 2603: 2599: 2595: 2587: 2584:Net to Gross 2583: 2579: 2567: 2563: 2537: 2528: 2519: 2509: 2501: 2495: 2491: 2487: 2482: 2473: 2466: 2461: 2452: 2443: 2433: 2424: 2414: 2405: 2391: 2383: 2379: 2375: 2371: 2367: 2363: 2343: 2334: 2329:are reported 2326: 2321: 2312: 2304: 2300: 2291: 2270:. Retrieved 2247: 2240: 2228:. Retrieved 2224: 2214: 2205:The Asylum, 2201: 2189:. Retrieved 2179: 2170: 2169:SPE (2011). 2149:. Retrieved 2137: 2133: 2123: 2104: 2098: 2086:. Retrieved 2074: 2070: 2045:. Retrieved 2040: 2027: 1990: 1986: 1976: 1968: 1963: 1951:. Retrieved 1915:. Retrieved 1904: 1896: 1895:SPE (2018), 1891: 1879:. Retrieved 1874: 1861: 1853: 1852:SPE (2018), 1848: 1836:. Retrieved 1826: 1793: 1789: 1755: 1715: 1681: 1660:. Retrieved 1653:the original 1623:. Retrieved 1616:the original 1611: 1599: 1587:. Retrieved 1568: 1562: 1554: 1549: 1537:. Retrieved 1532: 1522: 1510:. Retrieved 1505: 1492: 1480:. Retrieved 1475: 1462: 1454: 1453:SPE (2018), 1449: 1437:. Retrieved 1432: 1419: 1400: 1399:SPE (2018). 1328: 1327: 1248:Oil in place 1214: 1210: 1206: 1202: 1198: 1193: 1190: 1161: 1158: 1147: 1145: 1126: 1124: 1115:porous media 1094: 1093: 1078: 1063: 1059: 1051: 1047: 1046: 1041: 1040: 1032: 1022: 1018: 1015: 1006: 1001: 977: 942: 912: 883: 852: 818: 782: 746: 714: 683: 618: 613: 609: 605: 597: 589: 585: 581: 577: 571: 565: 553: 551: 541: 537: 533: 529: 521: 520: 510: 506: 502: 498: 493: 485: 483: 475: 469: 454: 452: 442: 438: 433: 432: 427: 423: 419: 418: 391: 386: 382: 378: 374: 373:industry as 369: 367: 351: 348: 337: 320: 303: 301: 297: 290: 285: 280: 270: 265: 260: 250: 245: 240: 208: 204: 200: 193: 189: 185: 183: 156:(AAPG), the 141: 137: 135: 131: 118: 114: 99: 74: 62: 57: 55:(oil or gas 44: 40: 39: 29: 18:Oil reserves 2467:expectation 2366:ossibility 2010:10023/18300 1360:Natural gas 1258:Uncertainty 1209:(including 1019:yet-to-find 614:recoverable 582:recoverable 530:P90-P50-P10 528:(typically 490:development 381:(PD) or as 333:stock value 329:asset value 152:(WPC), the 148:(SPE), the 110:uncertainty 53:natural gas 2688:Categories 2574:boundaries 1993:: 102083. 1376:References 743:Volumetric 648:Technique 602:extraction 494:contingent 430:estimate. 127:production 121:following 106:subsurface 67:associated 45:discovered 2019:155591371 1953:19 August 1875:SEC rules 1818:134783844 1215:shale oil 1211:shale gas 1207:tight gas 1101:in which 637:TABLE II: 616:volumes. 558:reservoir 461:resource. 205:prospects 194:potential 123:appraisal 49:crude oil 2699:Peak oil 2622:, where 2600:Porosity 2191:17 April 2032:Schenk. 1969:Op. Cit. 1944:Archived 1897:Op. Cit. 1877:. US Gov 1854:Op. Cit. 1838:20 April 1662:20 April 1625:20 April 1589:28 April 1555:Op. Cit. 1539:30 April 1512:28 April 1455:Op. Cit. 1283:Peak oil 1221:See also 610:in place 590:resource 586:reserves 578:in place 562:in place 434:Possible 420:Probable 345:Reserves 237:Reserves 215:TABLE I: 186:resource 119:reserves 91:oil well 2660:surface 2225:Reuters 1917:30 June 1881:19 June 1798:Bibcode 1476:SPE.org 1433:SPE.org 1201:(CBM), 989:geology 645:Method 606:volumes 554:volumes 321:booking 302:In the 164:(SEG). 43:denote 2386:uccess 2378:hance 2272:7 July 2263:  2230:8 June 2151:29 May 2111:  2088:5 July 2047:1 July 2043:. USGS 2017:  1899:, p iv 1816:  1768:  1728:  1724:–449. 1688:  1579:  1557:, p112 1535:. USGS 1527:USGS. 1482:18 May 1439:18 May 1407:  1169:, the 1111:fluids 680:Analog 567:STOIIP 190:fields 95:Canada 58:fields 2543:Darcy 2494:) or 2284:Notes 2037:(PDF) 2015:S2CID 1947:(PDF) 1940:(PDF) 1871:(PDF) 1814:S2CID 1656:(PDF) 1649:(PDF) 1619:(PDF) 1608:(PDF) 1573:(PDF) 1502:(PDF) 1472:(PDF) 1429:(PDF) 943:Pilot 588:or a 232:HIGH 209:leads 192:) or 174:basin 2572:trap 2305:i.e. 2274:2022 2261:ISBN 2232:2022 2193:2008 2153:2023 2109:ISBN 2090:2022 2049:2022 1971:, p4 1955:2014 1919:2022 1883:2022 1856:, p3 1840:2008 1766:ISBN 1764:–6. 1726:ISBN 1686:ISBN 1664:2008 1627:2008 1591:2022 1577:ISBN 1541:2022 1514:2022 1484:2022 1457:, p7 1441:2022 1405:ISBN 1146:The 1125:The 1107:flow 983:and 628:and 573:GIIP 540:and 511:ibid 470:i.e. 443:ibid 387:e.g. 310:and 304:PRMS 229:MID 226:LOW 207:and 142:PRMS 51:and 2657:FVF 2626:is 2604:net 2588:GRV 2568:GRV 2502:EUR 2253:doi 2142:doi 2079:doi 2005:hdl 1995:doi 1806:doi 1722:431 1109:of 1023:YTF 715:YTF 684:YTF 675:3U 672:2U 669:1U 666:3C 663:2C 660:1C 657:3P 654:2P 651:1P 612:or 570:or 492:is 338:SEC 201:i.e 93:in 89:An 2690:: 2644:RF 2624:Sw 2620:Sw 2492:UR 2382:f 2370:f 2353:^ 2259:. 2223:. 2161:^ 2138:13 2136:. 2132:. 2075:19 2073:. 2069:. 2057:^ 2039:. 2013:. 2003:. 1991:66 1989:. 1985:. 1927:^ 1873:. 1812:. 1804:. 1794:40 1792:. 1780:^ 1740:^ 1700:^ 1672:^ 1635:^ 1610:. 1531:. 1504:. 1474:. 1431:. 1383:^ 1177:. 972:β˜‰ 811:β˜‰ 775:β˜‰ 738:β˜‰ 707:β˜‰ 598:RF 542:3U 538:2U 536:, 534:1U 509:, 507:3C 505:, 503:2C 501:, 499:1C 445:) 439:3P 428:2P 424:2P 375:1P 352:1P 319:; 291:3U 286:2U 281:1U 271:3C 266:2C 261:1C 251:3P 246:2P 241:1P 77:. 2642:( 2504:) 2500:( 2490:( 2384:S 2380:o 2376:C 2372:S 2368:o 2364:P 2276:. 2255:: 2234:. 2195:. 2155:. 2144:: 2117:. 2092:. 2081:: 2051:. 2021:. 2007:: 1997:: 1957:. 1921:. 1885:. 1842:. 1820:. 1808:: 1800:: 1774:. 1762:5 1734:. 1694:. 1666:. 1629:. 1593:. 1543:. 1516:. 1486:. 1443:. 1413:. 1021:( 969:β˜‰ 966:β˜‰ 963:β˜‰ 960:β˜‰ 957:β˜‰ 954:β˜‰ 951:β˜‰ 948:β˜‰ 920:β˜‰ 917:β˜‰ 891:β˜‰ 888:β˜‰ 866:β˜‰ 863:β˜‰ 860:β˜‰ 857:β˜‰ 838:β˜‰ 835:β˜‰ 832:β˜‰ 829:β˜‰ 826:β˜‰ 823:β˜‰ 808:β˜‰ 805:β˜‰ 802:β˜‰ 799:β˜‰ 796:β˜‰ 793:β˜‰ 790:β˜‰ 787:β˜‰ 772:β˜‰ 769:β˜‰ 766:β˜‰ 763:β˜‰ 760:β˜‰ 757:β˜‰ 754:β˜‰ 751:β˜‰ 735:β˜‰ 732:β˜‰ 704:β˜‰ 701:β˜‰ 596:( 564:( 497:( 350:( 140:( 20:)

Index

Oil reserves

crude oil
natural gas
fields
associated
barrels of oil equivalent

oil well
Canada
mineral resource estimation
subsurface
uncertainty
appraisal
production
Society of Petroleum Engineers
World Petroleum Council
American Association of Petroleum Geologists
Society of Petroleum Evaluation Engineers
Society of Economic Geologists
Public companies
Securities and Exchange Commission
basin
accumulations
accumulations
hydrocarbon exploration
oil & gas company
balance sheet
asset value
stock value

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