Knowledge

Oil and gas reserves and resource quantification

Source πŸ“

1106:. 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. 1206:), 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. 343:), 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. 1014:), 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). 401: 22: 454: 1218: 1140:
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.
200:) 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. 75: 1119:
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
316:. 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 612:
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
324:. 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 97:). 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 338:
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.
50:) 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 1060:. 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. 426:
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
513:, 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 461:, 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. 1148:
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
54:(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 386:
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 "
374:(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 ( 2339:
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
446:, 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 2361:
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.
161:(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 378:
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.
1627: 1281: 618: 62:(BOE). Consequently, both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as 415:" (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 2152: 1959: 2537:
individual probability distributions taking into account interdependencies between portfolio elements (i.e not a simple addition of β€˜most likely volume’)
133:), which summarizes a consistent approach to estimating oil and gas quantities within a comprehensive classification framework, jointly developed by the 114:, 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 1023: 1531: 1353: 997:
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.
93:, detailed classification schemes have been devised by industry specialists to quantify volumes of oil and gas accumulated underground (known as 1675: 1811:
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
447: 317: 150: 134: 430:" (proven plus probable plus possible) where there is a 10% chance of delivering or exceeding the P10 volume.( 2756: 1047:), which preserve dependencies between parameters. These geostatistical methods are most commonly applied to 609: 2419: 1251: 2451:
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
2006:"Fossil fuel reserves and resources reporting and unburnable carbon: Investigating conflicting accounts" 295:, the terms 'Resources' and 'Reserves' have distinct and specific meaning with respect to oil & gas 185: 2751: 2594: 1286: 2432:
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
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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).
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the technically recoverable volume at a given set of market conditions is called the
2283: 2131: 2056: 2041: 1840: 1788: 1777: 1748: 1737: 1708: 1579: 1510: 1393: 502:) and in addition are assigned a risk, or chance, to exist in reality (POS or COS). 2275: 2164: 2101: 2057:"An Estimate of Undiscovered Conventional Oil and Gas Resources of the World, 2012" 2027: 2017: 1890: 1828: 162: 154: 2004:
Bebbington, Jan; Schneider, Thomas; Stevenson, Lorna; Fox, Alison (January 2020).
1415:"Reserve Recognition Under Production-Sharing and Other Nontraditional Agreements" 157:
that register securities in the U.S. market must report proved reserves under the
2153:"Net Pay β€” What Is It? What Does It Do? How Do We Quantify It? How Do We Use It?" 1933: 1333: 1323: 1266: 1163: 1155: 581:
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
2090:"The Use of Reservoir Simulation in Deterministic Proved-Reserves Estimation" 1739:
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
2565: 1236: 1103: 573:), and it is only this producible fraction that is considered to be either 555: 550: 321: 2130:(2 ed.). UK, USA & Australia: Blackwell Publishing. p. 153. 453: 1348: 1246: 305: 98: 94: 41: 2698:, including many charts and graphs on the world's energy supply and use 2653:) is defined as the percentage of pore space occupied by oil and/or gas 2194:
Guidelines for Application of the Petroleum Resources Management System
2032: 597:, in order to avoid confusion, it should be clarified whether they are 521:). In the PRMS the range of volumes is classified by the abbreviations 2279: 2168: 2105: 1832: 37: 2269: 16:
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
1271: 79: 2669:) is defined as the ratio between in-place and recoverable volumes 1217: 977: 2318:
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)
2244:"End new oil, gas and coal funding to reach net zero, says IEA" 2003: 83: 74: 1888: 320:, which in turn can influence oil & gas company share or 2678:
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
1936:. SPEE. Society of Petroleum Evaluators Engineers. p. 46 1392:(1.01 ed.). Society of Petroleum Engineers. p. 52. 1099: 1779:
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
1934:"Annual Survey of Parameters Used in Property Evaluation" 357:
Proven reserves are discovered volumes claimed to have a
2087: 1669:"Glossary of Terms Used in Petroleum Reserves/Resources" 1488:"Global Resource Classification Systems for Oil and Gas" 1390:
Petroleum Resource Management System (revised June 2018)
1578:. United Nations Economic Commission for Europe. 2021. 2500:
SEC does not allow reporting of undiscovered resources
1702: 1674:. Society of Petroleum Engineers. 2005. Archived from 1637:. Society of Petroleum Engineers. 1997. Archived from 1960:"The Intricate Puzzle of Oil and Gas Reserves Growth" 1495:
United Nations Economic Commission for Europe (UNECE)
1458:"Petroleum Resources Classification and Definitions" 1213: 2470:NOTE: SEC discourages the aggregation of estimates 1957: 1424:. Society of Petroleum Engineers. pp. 111–130 1122: 1069:missing, representing a "best technical" outcome. 168: 2267: 989:resource estimates) are conservative and tend to 976:, surface engineers and economists. Because the 395: 330:filings for either reserves or resource booking. 2708: 1354:List of countries by natural gas proven reserves 1051:that still need to be tested by the drill bit. 2125: 1810: 1703:Wright, Charlotte J.; Rebecca A Gallun (2008). 1663: 1661: 1659: 1497:. United Nations Economic Commission for Europe 1467:. Society of Petroleum Engineers. pp. 7–11 980:of the subsurface cannot be examined directly, 465:There are two non-reserve resource categories: 2196:. Society of Petroleum Engineers. p. 222. 2126:Gluyas, Jon G.; Swarbrick, Richard E. (2021). 2083: 2081: 1412: 545:) of oil and/or gas contained in a subsurface 312:is the process by which they are added to the 2128:Petroleum Geoscience, 2nd edition (paperback) 569:oil & gas can be brought to the surface ( 2641:(inversely measured as the water saturation 1953: 1951: 1656: 1169: 1063: 143:American Association of Petroleum Geologists 2187: 2185: 2150: 2078: 1515:: CS1 maint: numeric names: authors list ( 1109: 1026:can be calculated using a volume equation: 565:respectively). However, only a fraction of 2397:uccess (POS) sometimes called the COS or 2094:SPE Reservoir Evaluation & Engineering 1965:. U.S. Energy Information Administration. 1707:(5 ed.). PenWell Books. p. 750. 1383: 1381: 1379: 1377: 1375: 1373: 2568:flow in subsurface, which contrasts with 2031: 2021: 1948: 1783:. Gulf Professional Publishing. pp.  1770: 1768: 1766: 1764: 1698: 1696: 1413:McMichael, Claude L; Young, E.D. (2001). 1360:References, notes and working definitions 1102:(typically, oil, water, and gas) through 366:. Proven reserves may be referred to as 147:Society of Petroleum Evaluation Engineers 2609:discounts non-reservoir portions of the 2241: 2182: 1891:"MODERNIZATION OF OIL AND GAS REPORTING" 1705:Fundamentals of Oil & Gas Accounting 1532:"World Oil and Gas Resource Assessments" 1339:List of countries by proven oil reserves 1176:Unconventional (oil & gas) reservoir 1126: 536: 505: 452: 399: 165:level oil and gas resource assessments. 73: 20: 1855:"Petroleum Resources Management System" 1730: 1728: 1726: 1724: 1370: 1072: 468: 2709: 2578: 1857:. Society of Petroleum Engineers. 2007 1806: 1804: 1761: 1693: 1344:World energy resources and consumption 1000: 2702:Oil reserves (most recent) by country 2151:Worthington, Paul F. (October 2010). 1774: 1635:Petroleum Resources Management System 1194:(low permeability), low permeability 437: 127:petroleum resources management system 2625:is defined as the percentage of the 2381: 2379: 2377: 1931: 1889:Securities and Exchange Commission. 1847: 1734: 1721: 1455: 1017: 2191: 2010:Critical Perspectives on Accounting 1801: 1387: 1262:Global strategic petroleum reserves 13: 2054: 1972:from the original on 6 August 2010 1297:List of oilfield service companies 1143: 346: 159:Securities and Exchange Commission 118:within a recommended five years. 14: 2773: 2689: 2374: 2064:World Petroleum Resources Project 1743:. PennWell Corporation. pp.  625: 549:, is called oil or gas initially 203: 106:. Resources are re-classified as 69: 1628:"Petroleum Reserves Definitions" 1536:United States Geological Society 1529: 1216: 593:. When reporting oil & gas 2672: 2656: 2632: 2616: 2600: 2584: 2558: 2549: 2540: 2530: 2503: 2494: 2482: 2473: 2464: 2454: 2445: 2435: 2426: 2412: 2364: 2261: 2235: 2222: 2200: 2144: 2119: 2048: 1997: 1984: 1925: 1912: 1882: 1869: 1620: 1563: 1550: 1523: 1485: 1479: 1123:Production decline curve method 169:Reserves and resource reporting 2355: 2342: 2333: 2321: 2312: 2242:Chestney, Nina (18 May 2021). 1449: 1436: 1406: 608:The appropriate technique for 541:The total estimated quantity ( 396:Probable and possible reserves 151:Society of Economic Geologists 135:Society of Petroleum Engineers 1: 2572:dominated by capillary forces 1364: 515:range of volume uncertainties 1813:Journal of Petroleum Geology 1556:McMichael and Young (2001), 1252:Probability density function 842:Dynamic reservoir simulation 278: 273: 268: 258: 253: 248: 238: 233: 228: 177:refers to known (discovered 7: 2520:Estimated ultimate recovery 1958:David F. Morehouse (1997). 1312:Estimated ultimate recovery 1257:Copula (probability theory) 1209: 1202:) and tight oil (including 1160:International Energy Agency 1045:Copula (probability theory) 1022:Oil & gas volumes in a 333: 91:mineral resource estimation 10: 2778: 1775:Lyons, William C. (2005). 1287:List of natural gas fields 1173: 1076: 930: 900: 871: 840: 806: 770: 734: 702: 671: 350: 2570:unconventional reservoirs 2461:volumes can be delivered. 2023:10.1016/j.cpa.2019.04.004 1183:unconventional reservoirs 1170:Unconventional reservoirs 1064:Performance-based methods 706:(With segment production) 663: 660: 657: 654: 651: 648: 645: 642: 639: 636: 633: 220: 217: 214: 211: 60:barrels of oil equivalent 2651:1-hydrocarbon saturation 2420:probability distribution 2306: 2210:. moneyterms.co.uk. 2008 1735:Hyne, Norman J. (2001). 1116:materials balance method 1110:Materials balance method 1094:are used to predict the 928:Unconventional reservoir 1456:Ross, James G. (2001). 1232:Extraction of petroleum 808:Static reservoir models 675:(No segment production) 301:hydrocarbon exploration 139:World Petroleum Council 2747:Industries (economics) 2639:hydrocarbon saturation 2232:, 2011, Harper Collins 2157:SPE Res Eval & Eng 1588:. ECE Energy Series 68 1242:Decline curve analysis 1132: 1034: 1024:conventional reservoir 902:Decline curve analysis 462: 405: 389:national oil companies 86: 26: 2208:"Proven Oil Reserves" 1318:Energy and resources: 1130: 1088:reservoir engineering 1049:prospective resources 1028: 537:Estimation techniques 511:Prospective resources 506:Prospective resources 456: 403: 306:oil & gas company 266:Prospective Resources 104:prospective resources 77: 24: 2757:Petroleum production 2230:Leah McGrath Goodman 1307:Stranded gas reserve 1137:decline curve method 1084:Reservoir simulation 1079:Reservoir simulation 1073:Reservoir simulation 1053:Contingent resources 974:subsurface engineers 772:Probabilistic models 610:resource estimations 475:contingent resources 469:Contingent resources 444:non-reserve resource 359:reasonable certainty 246:Contingent Resources 30:Oil and gas reserves 2579:Working definitions 1825:2017JPetG..40..217Q 1001:Analog (YTF) method 982:indirect techniques 630: 208: 188:of oil and/or gas ( 2762:Natural gas fields 2737:Petroleum industry 2732:Resource economics 1932:SPEE (June 2019). 1292:List of oil fields 1277:Petroleum Industry 1192:basin-centered gas 1133: 463: 438:Resource estimates 406: 372:proven undeveloped 87: 52:resource estimates 27: 2752:Petroleum geology 2511:ultimate recovery 2289:978-1-55563-179-6 2280:10.2118/114591-MS 2169:10.2118/123561-PA 2106:10.2118/170669-PA 1833:10.1111/jpg.12674 1714:978-1-59370-137-6 1585:978-92-1-117259-1 1399:978-1-61399-660-7 1018:Volumetric method 965: 964: 838:Performance-based 629: 285: 284: 207: 2769: 2684: 2676: 2670: 2660: 2654: 2636: 2630: 2620: 2614: 2604: 2598: 2588: 2573: 2562: 2556: 2553: 2547: 2544: 2538: 2534: 2528: 2507: 2501: 2498: 2492: 2486: 2480: 2477: 2471: 2468: 2462: 2458: 2452: 2449: 2443: 2439: 2433: 2430: 2424: 2416: 2410: 2383: 2372: 2368: 2362: 2359: 2353: 2346: 2340: 2337: 2331: 2325: 2319: 2316: 2301: 2300: 2298: 2296: 2274:. Calgary: SPE. 2265: 2259: 2258: 2256: 2254: 2239: 2233: 2226: 2220: 2219: 2217: 2215: 2204: 2198: 2197: 2189: 2180: 2179: 2177: 2175: 2148: 2142: 2141: 2123: 2117: 2116: 2114: 2112: 2085: 2076: 2075: 2073: 2071: 2061: 2052: 2046: 2045: 2035: 2025: 2001: 1995: 1988: 1982: 1981: 1979: 1977: 1971: 1964: 1955: 1946: 1945: 1943: 1941: 1929: 1923: 1916: 1910: 1909: 1907: 1905: 1895: 1886: 1880: 1873: 1867: 1866: 1864: 1862: 1851: 1845: 1844: 1808: 1799: 1798: 1782: 1772: 1759: 1758: 1742: 1732: 1719: 1718: 1700: 1691: 1690: 1688: 1686: 1680: 1673: 1665: 1654: 1653: 1651: 1649: 1643: 1632: 1624: 1618: 1617: 1611: 1607: 1605: 1597: 1595: 1593: 1577: 1567: 1561: 1554: 1548: 1547: 1545: 1543: 1527: 1521: 1520: 1514: 1506: 1504: 1502: 1492: 1483: 1477: 1476: 1474: 1472: 1462: 1453: 1447: 1440: 1434: 1433: 1431: 1429: 1419: 1410: 1404: 1403: 1385: 1226: 1221: 1220: 986:new technologies 934:(rate transient) 873:Material balance 631: 627: 624: 448:geological basin 368:proven developed 209: 205: 202: 155:Public companies 2777: 2776: 2772: 2771: 2770: 2768: 2767: 2766: 2727:Oil exploration 2707: 2706: 2692: 2687: 2677: 2673: 2663:Recovery Factor 2661: 2657: 2637: 2633: 2621: 2617: 2605: 2601: 2589: 2585: 2581: 2576: 2563: 2559: 2554: 2550: 2545: 2541: 2535: 2531: 2508: 2504: 2499: 2495: 2487: 2483: 2478: 2474: 2469: 2465: 2459: 2455: 2450: 2446: 2440: 2436: 2431: 2427: 2417: 2413: 2385:expressed as a 2384: 2375: 2369: 2365: 2360: 2356: 2350:proved reserves 2347: 2343: 2338: 2334: 2326: 2322: 2317: 2313: 2309: 2304: 2294: 2292: 2290: 2266: 2262: 2252: 2250: 2240: 2236: 2227: 2223: 2213: 2211: 2206: 2205: 2201: 2190: 2183: 2173: 2171: 2149: 2145: 2138: 2124: 2120: 2110: 2108: 2086: 2079: 2069: 2067: 2059: 2053: 2049: 2002: 1998: 1989: 1985: 1975: 1973: 1969: 1962: 1956: 1949: 1939: 1937: 1930: 1926: 1917: 1913: 1903: 1901: 1893: 1887: 1883: 1874: 1870: 1860: 1858: 1853: 1852: 1848: 1809: 1802: 1795: 1773: 1762: 1755: 1733: 1722: 1715: 1701: 1694: 1684: 1682: 1678: 1671: 1667: 1666: 1657: 1647: 1645: 1641: 1630: 1626: 1625: 1621: 1609: 1608: 1599: 1598: 1591: 1589: 1586: 1575: 1569: 1568: 1564: 1555: 1551: 1541: 1539: 1528: 1524: 1508: 1507: 1500: 1498: 1490: 1484: 1480: 1470: 1468: 1460: 1454: 1450: 1441: 1437: 1427: 1425: 1417: 1411: 1407: 1400: 1386: 1371: 1367: 1362: 1334:Energy security 1324:Proven reserves 1267:Oil exploration 1222: 1215: 1212: 1188:coalbed methane 1178: 1172: 1164:Paris Agreement 1156:decarbonisation 1146: 1144:Reserves growth 1125: 1112: 1092:computer models 1081: 1075: 1066: 1058:reservoir model 1020: 1003: 583:recovery factor 539: 508: 471: 440: 398: 384:proven reserves 355: 353:Proven reserves 349: 347:Proven reserves 336: 212:RESOURCE CLASS 171: 149:(SPEE) and the 72: 17: 12: 11: 5: 2775: 2765: 2764: 2759: 2754: 2749: 2744: 2739: 2734: 2729: 2724: 2719: 2705: 2704: 2699: 2691: 2690:External links 2688: 2686: 2685: 2671: 2655: 2631: 2615: 2599: 2582: 2580: 2577: 2575: 2574: 2557: 2548: 2539: 2529: 2502: 2493: 2481: 2472: 2463: 2453: 2444: 2434: 2425: 2411: 2373: 2363: 2354: 2341: 2332: 2320: 2310: 2308: 2305: 2303: 2302: 2288: 2260: 2234: 2221: 2199: 2181: 2163:(5): 812–822. 2143: 2137:978-1405199605 2136: 2118: 2100:(3): 358–366. 2077: 2047: 1996: 1983: 1947: 1924: 1911: 1881: 1868: 1846: 1819:(3): 217–248. 1800: 1793: 1760: 1753: 1720: 1713: 1692: 1681:on 27 May 2008 1655: 1644:on 27 May 2008 1619: 1610:|website= 1584: 1562: 1549: 1522: 1486:UNECE (2019). 1478: 1448: 1435: 1405: 1398: 1368: 1366: 1363: 1361: 1358: 1357: 1356: 1351: 1346: 1341: 1336: 1331: 1329:Resource curse 1326: 1315: 1314: 1309: 1304: 1302:Petroleum play 1299: 1294: 1289: 1284: 1279: 1274: 1269: 1264: 1259: 1254: 1249: 1244: 1239: 1234: 1228: 1227: 1211: 1208: 1174:Main article: 1171: 1168: 1151:reserve growth 1145: 1142: 1124: 1121: 1111: 1108: 1086:is an area of 1077:Main article: 1074: 1071: 1065: 1062: 1019: 1016: 1002: 999: 991:grow with time 963: 962: 959: 956: 953: 950: 947: 944: 941: 938: 935: 929: 925: 924: 922: 920: 918: 916: 914: 912: 910: 907: 904: 899: 896: 895: 893: 891: 889: 887: 885: 883: 881: 878: 875: 870: 867: 866: 864: 862: 860: 858: 856: 853: 850: 847: 844: 839: 835: 834: 832: 830: 828: 825: 822: 819: 816: 813: 810: 805: 802: 801: 798: 795: 792: 789: 786: 783: 780: 777: 774: 769: 766: 765: 762: 759: 756: 753: 750: 747: 744: 741: 738: 733: 729: 728: 725: 722: 719: 717: 715: 713: 711: 709: 707: 701: 698: 697: 694: 691: 688: 686: 684: 682: 680: 678: 676: 670: 666: 665: 662: 659: 656: 653: 650: 647: 644: 641: 638: 635: 538: 535: 507: 504: 470: 467: 439: 436: 397: 394: 351:Main article: 348: 345: 335: 332: 283: 282: 277: 272: 267: 263: 262: 257: 252: 247: 243: 242: 237: 232: 227: 223: 222: 219: 216: 213: 173:An oil or gas 170: 167: 89:As with other 71: 70:Quantification 68: 36:quantities of 15: 9: 6: 4: 3: 2: 2774: 2763: 2760: 2758: 2755: 2753: 2750: 2748: 2745: 2743: 2740: 2738: 2735: 2733: 2730: 2728: 2725: 2723: 2720: 2718: 2715: 2714: 2712: 2703: 2700: 2697: 2694: 2693: 2681: 2675: 2668: 2664: 2659: 2652: 2648: 2644: 2640: 2635: 2628: 2624: 2619: 2612: 2608: 2603: 2596: 2592: 2587: 2583: 2571: 2567: 2561: 2552: 2543: 2533: 2526: 2522: 2521: 2516: 2512: 2506: 2497: 2491: 2485: 2476: 2467: 2457: 2448: 2438: 2429: 2421: 2415: 2408: 2404: 2400: 2396: 2392: 2388: 2382: 2380: 2378: 2367: 2358: 2351: 2348:usually only 2345: 2336: 2329: 2324: 2315: 2311: 2291: 2285: 2281: 2277: 2273: 2272: 2264: 2249: 2245: 2238: 2231: 2225: 2209: 2203: 2195: 2188: 2186: 2170: 2166: 2162: 2158: 2154: 2147: 2139: 2133: 2129: 2122: 2107: 2103: 2099: 2095: 2091: 2084: 2082: 2065: 2058: 2051: 2043: 2039: 2034: 2029: 2024: 2019: 2015: 2011: 2007: 2000: 1993: 1990:Ross (2001), 1987: 1968: 1961: 1954: 1952: 1935: 1928: 1921: 1915: 1899: 1892: 1885: 1878: 1872: 1856: 1850: 1842: 1838: 1834: 1830: 1826: 1822: 1818: 1814: 1807: 1805: 1796: 1794:9780750677851 1790: 1786: 1781: 1780: 1771: 1769: 1767: 1765: 1756: 1754:9780878148233 1750: 1746: 1741: 1740: 1731: 1729: 1727: 1725: 1716: 1710: 1706: 1699: 1697: 1677: 1670: 1664: 1662: 1660: 1640: 1636: 1629: 1623: 1615: 1603: 1587: 1581: 1574: 1573: 1566: 1559: 1553: 1537: 1533: 1526: 1518: 1512: 1496: 1489: 1482: 1466: 1459: 1452: 1445: 1439: 1423: 1416: 1409: 1401: 1395: 1391: 1384: 1382: 1380: 1378: 1376: 1374: 1369: 1355: 1352: 1350: 1347: 1345: 1342: 1340: 1337: 1335: 1332: 1330: 1327: 1325: 1322: 1321: 1320: 1319: 1313: 1310: 1308: 1305: 1303: 1300: 1298: 1295: 1293: 1290: 1288: 1285: 1283: 1280: 1278: 1275: 1273: 1270: 1268: 1265: 1263: 1260: 1258: 1255: 1253: 1250: 1248: 1245: 1243: 1240: 1238: 1235: 1233: 1230: 1229: 1225: 1224:Energy portal 1219: 1214: 1207: 1205: 1201: 1197: 1193: 1189: 1184: 1177: 1167: 1165: 1161: 1157: 1152: 1141: 1138: 1129: 1120: 1117: 1107: 1105: 1101: 1097: 1093: 1089: 1085: 1080: 1070: 1061: 1059: 1054: 1050: 1046: 1042: 1041:Probabilistic 1038: 1037:Deterministic 1033: 1032: 1027: 1025: 1015: 1013: 1009: 998: 994: 992: 987: 983: 979: 975: 971: 970:geoscientists 960: 957: 954: 951: 948: 945: 942: 939: 936: 933: 927: 926: 923: 921: 919: 917: 915: 913: 911: 908: 905: 903: 898: 897: 894: 892: 890: 888: 886: 884: 882: 879: 876: 874: 869: 868: 865: 863: 861: 859: 857: 854: 851: 848: 845: 843: 837: 836: 833: 831: 829: 826: 823: 820: 817: 814: 811: 809: 804: 803: 799: 796: 793: 790: 787: 784: 781: 778: 775: 773: 768: 767: 763: 760: 757: 754: 751: 748: 745: 742: 739: 737: 736:Deterministic 731: 730: 726: 723: 720: 718: 716: 714: 712: 710: 708: 705: 700: 699: 695: 692: 689: 687: 685: 683: 681: 679: 677: 674: 668: 667: 632: 623: 620: 619:deterministic 616: 615:probabilistic 611: 606: 604: 600: 596: 592: 588: 584: 580: 576: 572: 568: 564: 563: 558: 557: 552: 548: 544: 534: 532: 528: 524: 520: 516: 512: 503: 501: 497: 493: 489: 484: 480: 476: 466: 460: 455: 451: 449: 445: 435: 433: 429: 424: 420: 418: 414: 410: 402: 393: 390: 385: 379: 377: 373: 369: 365: 360: 354: 344: 342: 331: 329: 328: 323: 319: 315: 314:balance sheet 311: 307: 302: 298: 297:accumulations 294: 289: 281: 276: 271: 265: 264: 261: 256: 251: 245: 244: 241: 236: 231: 225: 224: 210: 201: 199: 195: 192:undiscovered 191: 187: 186:accumulations 184: 180: 176: 166: 164: 160: 156: 152: 148: 144: 140: 136: 132: 128: 123: 119: 117: 113: 109: 105: 100: 96: 92: 85: 81: 76: 67: 65: 64:oil & gas 61: 57: 53: 49: 48: 43: 39: 35: 31: 23: 19: 2742:Fossil fuels 2717:Oil reserves 2679: 2674: 2666: 2662: 2658: 2650: 2646: 2642: 2638: 2634: 2626: 2622: 2618: 2610: 2607:Net to Gross 2606: 2602: 2590: 2586: 2560: 2551: 2542: 2532: 2524: 2518: 2514: 2510: 2505: 2496: 2489: 2484: 2475: 2466: 2456: 2447: 2437: 2428: 2414: 2406: 2402: 2398: 2394: 2390: 2386: 2366: 2357: 2352:are reported 2349: 2344: 2335: 2327: 2323: 2314: 2293:. Retrieved 2270: 2263: 2251:. Retrieved 2247: 2237: 2228:The Asylum, 2224: 2212:. Retrieved 2202: 2193: 2192:SPE (2011). 2172:. Retrieved 2160: 2156: 2146: 2127: 2121: 2109:. Retrieved 2097: 2093: 2068:. Retrieved 2063: 2050: 2013: 2009: 1999: 1991: 1986: 1974:. Retrieved 1938:. Retrieved 1927: 1919: 1918:SPE (2018), 1914: 1902:. Retrieved 1897: 1884: 1876: 1875:SPE (2018), 1871: 1859:. Retrieved 1849: 1816: 1812: 1778: 1738: 1704: 1683:. Retrieved 1676:the original 1646:. Retrieved 1639:the original 1634: 1622: 1590:. Retrieved 1571: 1565: 1557: 1552: 1540:. Retrieved 1535: 1525: 1499:. Retrieved 1494: 1481: 1469:. Retrieved 1464: 1451: 1443: 1442:SPE (2018), 1438: 1426:. Retrieved 1421: 1408: 1389: 1388:SPE (2018). 1317: 1316: 1237:Oil in place 1203: 1199: 1195: 1191: 1187: 1182: 1179: 1150: 1147: 1136: 1134: 1115: 1113: 1104:porous media 1083: 1082: 1067: 1052: 1048: 1040: 1036: 1035: 1030: 1029: 1021: 1011: 1007: 1004: 995: 990: 966: 931: 901: 872: 841: 807: 771: 735: 703: 672: 607: 602: 598: 594: 586: 578: 574: 570: 566: 560: 554: 542: 540: 530: 526: 522: 518: 510: 509: 499: 495: 491: 487: 482: 474: 472: 464: 458: 443: 441: 431: 427: 422: 421: 416: 412: 408: 407: 380: 375: 371: 367: 363: 362:industry as 358: 356: 340: 337: 326: 309: 292: 290: 286: 279: 274: 269: 259: 254: 249: 239: 234: 229: 197: 193: 189: 182: 178: 174: 172: 145:(AAPG), the 130: 126: 124: 120: 107: 103: 88: 63: 51: 46: 44:(oil or gas 33: 29: 28: 18: 2490:expectation 2389:ossibility 2033:10023/18300 1349:Natural gas 1247:Uncertainty 1198:(including 1008:yet-to-find 603:recoverable 571:recoverable 519:P90-P50-P10 517:(typically 479:development 370:(PD) or as 322:stock value 318:asset value 141:(WPC), the 137:(SPE), the 99:uncertainty 42:natural gas 2711:Categories 2597:boundaries 2016:: 102083. 1365:References 732:Volumetric 637:Technique 591:extraction 483:contingent 419:estimate. 116:production 110:following 95:subsurface 56:associated 34:discovered 2042:155591371 1976:19 August 1898:SEC rules 1841:134783844 1612:ignored ( 1602:cite book 1204:shale oil 1200:shale gas 1196:tight gas 1090:in which 626:TABLE II: 605:volumes. 547:reservoir 450:resource. 194:prospects 183:potential 112:appraisal 38:crude oil 2722:Peak oil 2645:, where 2623:Porosity 2214:17 April 2055:Schenk. 1992:Op. Cit. 1967:Archived 1920:Op. Cit. 1900:. US Gov 1877:Op. Cit. 1861:20 April 1685:20 April 1648:20 April 1592:28 April 1558:Op. Cit. 1542:30 April 1511:cite web 1501:28 April 1444:Op. Cit. 1272:Peak oil 1210:See also 599:in place 579:resource 575:reserves 567:in place 551:in place 423:Possible 409:Probable 334:Reserves 226:Reserves 204:TABLE I: 175:resource 108:reserves 80:oil well 2683:surface 2248:Reuters 1940:30 June 1904:19 June 1821:Bibcode 1465:SPE.org 1422:SPE.org 1190:(CBM), 978:geology 634:Method 595:volumes 543:volumes 310:booking 291:In the 153:(SEG). 32:denote 2409:uccess 2401:hance 2295:7 July 2286:  2253:8 June 2174:29 May 2134:  2111:5 July 2070:1 July 2066:. USGS 2040:  1922:, p iv 1839:  1791:  1751:  1747:–449. 1711:  1582:  1560:, p112 1538:. USGS 1530:USGS. 1471:18 May 1428:18 May 1396:  1158:, the 1100:fluids 669:Analog 556:STOIIP 179:fields 84:Canada 47:fields 2566:Darcy 2517:) or 2307:Notes 2060:(PDF) 2038:S2CID 1970:(PDF) 1963:(PDF) 1894:(PDF) 1837:S2CID 1679:(PDF) 1672:(PDF) 1642:(PDF) 1631:(PDF) 1576:(PDF) 1491:(PDF) 1461:(PDF) 1418:(PDF) 932:Pilot 577:or a 221:HIGH 198:leads 181:) or 163:basin 2595:trap 2328:i.e. 2297:2022 2284:ISBN 2255:2022 2216:2008 2176:2023 2132:ISBN 2113:2022 2072:2022 1994:, p4 1978:2014 1942:2022 1906:2022 1879:, p3 1863:2008 1789:ISBN 1787:–6. 1749:ISBN 1709:ISBN 1687:2008 1650:2008 1614:help 1594:2022 1580:ISBN 1544:2022 1517:link 1503:2022 1473:2022 1446:, p7 1430:2022 1394:ISBN 1135:The 1114:The 1096:flow 972:and 617:and 562:GIIP 529:and 500:ibid 459:i.e. 432:ibid 376:e.g. 299:and 293:PRMS 218:MID 215:LOW 196:and 131:PRMS 40:and 2680:FVF 2649:is 2627:net 2611:GRV 2591:GRV 2525:EUR 2276:doi 2165:doi 2102:doi 2028:hdl 2018:doi 1829:doi 1745:431 1098:of 1012:YTF 704:YTF 673:YTF 664:3U 661:2U 658:1U 655:3C 652:2C 649:1C 646:3P 643:2P 640:1P 601:or 559:or 481:is 327:SEC 190:i.e 82:in 78:An 2713:: 2667:RF 2647:Sw 2643:Sw 2515:UR 2405:f 2393:f 2376:^ 2282:. 2246:. 2184:^ 2161:13 2159:. 2155:. 2098:19 2096:. 2092:. 2080:^ 2062:. 2036:. 2026:. 2014:66 2012:. 2008:. 1950:^ 1896:. 1835:. 1827:. 1817:40 1815:. 1803:^ 1763:^ 1723:^ 1695:^ 1658:^ 1633:. 1606:: 1604:}} 1600:{{ 1534:. 1513:}} 1509:{{ 1493:. 1463:. 1420:. 1372:^ 1166:. 961:β˜‰ 800:β˜‰ 764:β˜‰ 727:β˜‰ 696:β˜‰ 587:RF 531:3U 527:2U 525:, 523:1U 498:, 496:3C 494:, 492:2C 490:, 488:1C 434:) 428:3P 417:2P 413:2P 364:1P 341:1P 308:; 280:3U 275:2U 270:1U 260:3C 255:2C 250:1C 240:3P 235:2P 230:1P 66:. 2665:( 2527:) 2523:( 2513:( 2407:S 2403:o 2399:C 2395:S 2391:o 2387:P 2299:. 2278:: 2257:. 2218:. 2178:. 2167:: 2140:. 2115:. 2104:: 2074:. 2044:. 2030:: 2020:: 1980:. 1944:. 1908:. 1865:. 1843:. 1831:: 1823:: 1797:. 1785:5 1757:. 1717:. 1689:. 1652:. 1616:) 1596:. 1546:. 1519:) 1505:. 1475:. 1432:. 1402:. 1010:( 958:β˜‰ 955:β˜‰ 952:β˜‰ 949:β˜‰ 946:β˜‰ 943:β˜‰ 940:β˜‰ 937:β˜‰ 909:β˜‰ 906:β˜‰ 880:β˜‰ 877:β˜‰ 855:β˜‰ 852:β˜‰ 849:β˜‰ 846:β˜‰ 827:β˜‰ 824:β˜‰ 821:β˜‰ 818:β˜‰ 815:β˜‰ 812:β˜‰ 797:β˜‰ 794:β˜‰ 791:β˜‰ 788:β˜‰ 785:β˜‰ 782:β˜‰ 779:β˜‰ 776:β˜‰ 761:β˜‰ 758:β˜‰ 755:β˜‰ 752:β˜‰ 749:β˜‰ 746:β˜‰ 743:β˜‰ 740:β˜‰ 724:β˜‰ 721:β˜‰ 693:β˜‰ 690:β˜‰ 585:( 553:( 486:( 339:( 129:(

Index


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
SEC

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