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 ?
Proven reserves of conventional natural gas remain close to the 190 TCF figure given in recent years.
Of the proven reserves of non-associated gas, 1 TCF had been reserved for domestic use and the rest is for export in LNG form.
"The discovery of these fields testifies to an increase in the proven reserves of natural gas in the Galkynysh super-giant oil field," the statement said.
In fact, after burning way more than all our proven reserves as of 33 years ago, our current proven reserves amount to L6 trillion barrels.
Iraq also put out a tender to foreign firms for the development of the Nasiriyah oilfield, which has proven reserves of more than four billion barrels of oil.
We distribute the numbers and we are sure that our proven reserves are more than a trillion," Abdalla Salem El Badri told CNN when marking the 50th Anniversary of OPEC.
Iraq s proven reserves had been put at 115 billion barrels, already the world s third largest, but based on outdated data.
Iraq's proven reserves had been 115 billion barrels, already the world's third largest, but the data on which that figure was based was believed to be outdated.
Lucia has 30 MW capacity in proven reserves with a surplus 140 MW capacity in probable reserves.
Callon's 2009 year-end crude oil reserves were 67%, adding 15.0 Bcfe of net proven reserves replacing 127% of the reserves produced in 2009, it added.
The proven reserves in the North African country are 11.6 billion barrels.