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.
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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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Both its oil and gas proved reserves and proved and probable reserves continued to decline in 2017.
the proved reserve figures of Table 5 to provide a more complete
The firm's new proved reserve estimates represent 78 percent crude oil and 22 percent natural gas.
As of 1 August 2011, the company's estimated proved reserves were 1.75m barrels of oil equivalent (mmBOE) with an associated PV-10 estimated, pre-tax future net cash flows discounted at 10% for its proved category of approximately USD28.1m.
International Resource News-13 February 2009-GeoMet Announces Estimated Proved Reserves of 2008(C)2009 ENPublishing - http://www.enpublishing.co.uk
US-based Exxon Mobil Corporation, a global energy company, said has added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 per cent of the year's production.ExxonMobil's proved reserves totalled 24.3 billion oil-equivalent barrels at year-end 2018.
said estimated proved reserves at the end of 2018 totaled 72.5 million barrels of oil equivalent.
For the full-year 2017, the production and year-end proved reserves associated with the 16.5% interest in the Clair Field were approximately 3,000 barrels of oil equivalent per day (MBOED) and approximately 40m barrels of oil equivalent (MMBOE), respectively.
Bahrain announced on Wednesday the size of the oil reserves in the giant discovery that it had made, and figures dwarf the proved reserves that the island kingdom in the Persian Gulf had prior to the latest oil find.
The company's proved reserves totalled 24.8 billion barrels of oil and natural gas at the end of 2015, enough to last 16 years.