proved reserves

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Proved Reserves

The estimated amount of a natural resource, especially an energy resource, that has been measured with reasonable certainty and is obtainable with existing equipment and under current operating conditions. Proved reserves are important to energy companies that wish to extract as much of a resource as possible at the least amount of risk. See also: Developmental oil and gas partnership.

proved reserves

The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources.
References in periodicals archive ?
Year-end 2014 proved reserves of 122 MMBoe, proved, probable and possible ("3P") reserves of 477 MMBoe
In addition to the above rule changes, the new SEC reporting rules require that year-end proved reserve volumes be calculated using an average of the NYMEX spot prices for sales of oil and gas on the first calendar day of each month during 2009.
20, 2015 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today reported year-end proved reserves of 7.
The finding and development cost associated with proved reserve additions from all sources, was approximately $15 per BOE in 2007.
Proved reserves have grown at a compound annual growth rate of 28% during the last five years
The following table reflects the changes in the proved reserve estimates since the end of 2008:
Approximately 65% of the 2006 capital expenditures were spent on land, G&G, maintenance of proved reserves and on converting proved undeveloped reserves to the proved developed category, and a comparable (50-55%) amount is planned for 2007.
Bois d'Arc spent approximately $214 million in 2007 on exploration and development activities which added 96 Bcfe to its proved reserve base resulting in an "all in" finding costs of $2.
6 Bcfe of proved reserves during 2004, replacing 128% of its 2004 production.
During the year, the Company acquired oil and gas properties having 41 Bcfe of proved reserves and sold properties containing 11 Bcfe.
The proved reserve evaluation conforms to the Securities and Exchange Commission Regulation S-X, Rule 4-10 (a).
Mobil said proved reserve additions included 226 million barrels from 1993 exploration discoveries and extensions from discoveries in previous years; 121 million barrels of oil equivalent from Mobil's interest in the Qatargas liquefied natural gas (LNG) project resulting from negotiating sales contracts for two trains; and 243 million barrels of oil equivalent from improved recovery due to on-going development work and improved field performance, and