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 ?
crude oil and lease condensate proved reserves reached the topmost level since 1972, and natural gas proved reserves exceeded last year's record level.
total) of proved reserves of crude oil and lease condensate in 2012.
At the current rate of consumption, it appears that the world's proved reserves will be consumed in approximately 30 or 40 years.
The prices used to calculate proved reserves for year-end 2008, when Pioneer's proved reserves were last reported, were $44.
Increase in liquids proved reserves (crude oil/condensate/natural gas liquids) by 100 percent year-over-year
Louisiana, Arkansas, Texas, Oklahoma, and Pennsylvania were the leading states in adding new proved reserves of shale gas during 2009," he said.
00 per Mcf for natural gas, calculated using SEC mandated methodology, the present value of estimated future net revenues, before income taxes, discounted at 10 percent (PV-10), attributable to the estimate of total proved reserves was $911.
Total Proved Reserves Increase 36% Panhandle's estimated total proved reserves at Sept.
We are particularly excited about reaching the 100 Bcfe benchmark in proved reserves, which we achieved mostly through the drill-bit," commented William S.
The proved reserves as of December 31, 2009 are calculated based on new Securities and Exchange Commission ("SEC") guidelines that went into effect for the Company's yearend 2009 oil and gas reserve reporting.
Swift Energy's proved reserves are located in South Louisiana (55% of proved reserves), South Texas (18%), Toledo Bend in East Texas and Central Louisiana (14%), and New Zealand (13%).