edimonk
How are oil reserves classified?
Oil reserves
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replied to: edimonk
melintur
Replied to: How are oil reserves classified?
Reserves must follow these four criteria:
\* discovered through one or more exploratory wells
\* recoverable using existing technology
\* commercially viable
\* remaining in the ground
\* discovered through one or more exploratory wells
\* recoverable using existing technology
\* commercially viable
\* remaining in the ground
replied to: melintur
aseforlife
Replied to: Reserves must follow these four criteria:...
Proved reserves are called 1P in the industry. They are considered to be recoverable under existing conditions, using existing technology.