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Proven Reserves
Proven reserves (also called measured reserves, 1P, and reserves) is a measure of fossil fuel energy reserves, such as oil and gas reserves and coal reserves. It is defined as the "quantity of energy sources estimated with reasonable certainty, from the analysis of geologic and engineering data, to be recoverable from well established or known reservoirs with the existing equipment and under the existing operating conditions." A reserve is considered proven if it is probable that at least 90% of the resource is recoverable by economically profitable means. Operating conditions are taken into account when determining if a reserve is classified as proven. Operating conditions include operational break-even price, regulatory and contractual approvals, without which the reserve cannot be classified as proven. Price changes therefore can have a large impact on the classification of proven reserves. Regulatory and contractual conditions may change, and also affect the amount of prov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum Probabilities
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refining, refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric life, prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by oil drilling, drilling, which is done after a study of the relevant structural geology, sedimentary basin analysis, analysis of the sedimentary basin, and reservoir characterization, characterization of the petroleum reservoir. There are also unconventional (oil & gas) reservoir, unconventional reserves such as oil sands and oil sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DeGolyer And MacNaughton
DeGolyer and MacNaughton is a petroleum consulting company based in Dallas, Texas, with offices in Houston, Buenos Aires, and Algiers. DeGolyer and MacNaughton was founded in 1936 by Everette Lee DeGolyer and Lewis MacNaughton. DeGolyer had formerly known McNaughton through their work with the petroleum exploration company Amerada. While serving as President, DeGolyer hired McNaughton to work for Amerada in 1928. Company founding and early years In the 1930s bankers began offering essential long-term loans to prospective oil companies only after they had secured the unknown, subterranean collateral of the oil reserves at a particular site, which required the banks to rely on the integrity, competence, honesty, and experience of those individual assessing the value of the reserves. New financing methods were required which created a need for reliable and fully independent studies and evaluations of reservoirs. DeGolyer and McNaughton was established to meet these needs. On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Development
Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include the production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues. Societies use energy for transportation, manufacturing, illumination, heating and air conditioning, and communication, for industrial, commercial, agricultural and domestic purposes. Energy resources may be classified as primary resources, where the resource can be used in substantially its original form, or as secondary resources, where the energy source must be converted into a more conveniently usable form. Non-renewable resources are significantly depleted by human use, whereas renewable resources are produced by ongoing proces ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Coal Reserves
The reserve list specifies different types of coal and includes countries with at least 0.1% share of the estimated world's proven reserves of coal. All data are taken from the German Federal Institute for Geosciences and Natural Resources (BGR) via BP; all numbers are in million tonnes. However BP no longer publishes coal reserves and the Energy Institute did not update the figures in 2023. Background Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements; chiefly hydrogen, sulfur, oxygen, and nitrogen. As a fossil fuel burned for heat, coal supplies about a quarter of the world's primary energy and two-fifths of its electricity. The largest consumer and importer of coal is China. China mines almost half the world's coal, followed by India with about a tenth. Australia accounts for about a third of world coal exports, followed by Indonesia and Russia. Coal is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil And Gas Reserves
Oil and gas reserves denote ''discovered'' quantities of crude oil and natural gas from known fields that can be profitably produced/recovered from an approved development. Oil and gas reserves tied to approved operational plans filed on the day of reserves reporting are also sensitive to fluctuating global market pricing. The remaining resource estimates (after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BOE). Consequently, both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as ''oil & gas''. Quantification As with other mineral resource estimation, detailed classification schemes have been devised by industry specialists to quantify volu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Proven Oil Reserves
Oil reserves, Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions. Some statistics on this page are disputed and controversial—different sources (OPEC, ''The World Factbook, CIA World Factbook'', list of oil exploration and production companies, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or Natural-gas processing#Contaminants in raw natural gas, natural gas liquids. Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased sudden ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimated Ultimate Recovery
Estimated ultimate recovery or Expected ultimate recovery (EUR) of a resource is the sum of the proven reserves Proven reserves (also called measured reserves, 1P, and reserves) is a measure of fossil fuel energy reserves, such as oil and gas reserves and coal reserves. It is defined as the "quantity of energy sources estimated with reasonable certaint ... at a specific time and the cumulative production up to that point. References Petroleum production Petroleum economics {{petroleum-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SEC Filings
The SEC filing is a financial statements, financial statement or other formal document submitted to the U.S. Securities and Exchange Commission (SEC). Public company, Public companies, certain insiders, and broker-dealers are required to make regular SEC filings. Investors and financial professionals rely on these filings for information about companies they are evaluating for investment purposes. Many, but not all SEC filings are available online through the SEC's EDGAR (Electronic Data Gathering, Analysis, and Retrieval) database and as structured datasets in the Harvard Dataverse. Common filing types The most commonly filed SEC forms are the 10-K and the 10-Q. These forms are composed of four main sections: The business section, the F-pages, the Risk Factors, and the MD&A. The business section provides an overview of the Company. The F-pages contain the financial statements which are either audited or reviewed by an independent auditor. The Risk Factors contain a list of all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyd's Register
Lloyd's Register Group Limited, trading as Lloyd's Register (LR), is a technical and professional services organisation and a maritime classification society, wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. The organisation dates to 1760. Its stated aims are to enhance the safety of life, property, and the environment, by helping its clients (including by validation, certification, and accreditation) to improve the safety and performance of complex projects, supply chains and critical infrastructure. In July 2012, the organisation converted from an industrial and provident society to a company limited by shares, named Lloyd’s Register Group Limited, with the new Lloyd’s Register Foundation as the sole shareholder. At the same time the organisation gave to the Foundation a substantial bond and equity portfolio to assist it with its charitable purposes. It will benefit from continued funding from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ryder Scott
Ryder Scott Company is a petroleum consulting firm based in Houston, Texas, United States. The firm independently estimates oil and gas reserves, future production profiles and cashflow economics, including discounted net present values. It assess oil reserves and evaluates oil and gas properties. History The company was founded in Bradford, Pennsylvania Bradford is a city in McKean County, Pennsylvania, United States. It is located close to the border with New York state and approximately south of Buffalo, New York. Home to an oil refinery, Zippo headquarters and a University of Pittsburgh b ... on July 1, 1937, by Harry M. Ryder, a prominent petroleum engineer, who died in 1954. and David Scott, Jr. In 1967, Ryder Scott acquired Robert W. Harrison & Co., moved to Houston, and transitioned from waterflood design to evaluation engineering, Ryder Scott's core business. Software Reservoir Solutions FreewareSOS DownloadsWell Collator See also * GaffneyCline References ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miller And Lents, Ltd
Miller and Mochen, Ltd. is a petroleum consulting company based in Houston, Texas. The firm provides services including reserves certifications, audits, and independent evaluations. They prepare evaluations according to the standards of the United States Securities and Exchange Commission (SEC) Regulation S-X and the Petroleum Resources Management System (PRMS) published by the Society of Petroleum Engineers (SPE). Current operations Board of directors The Chairman of the Board is Robert Oberst. The Senior Vice Presidents are Leslie Fallon and Gary Knapp. Consulting activities Reserves evaluations Miller and Lents, Ltd. prepares reserves estimates by applying both SEC and SPE-PRMS standards. These estimates include the assessment of developed and undeveloped reserves and classification according to Proved, Probable, Possible, Contingent, and Prospective Resources definitions. Economics They also evaluate relevant economic parameters and creates financial reports f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
