best estimate


Also found in: Acronyms.

best estimate

[¦best ′es·tə·mət]
(statistics)
A term applied to unbiased estimates which have a minimum variance.
References in periodicals archive ?
A large three way dip and fault bounded structure, the Cadence Prospect, with reservoir potential at multiple levels including the Scremerston and Fell Sandstone Formations with a Best Estimate GIIP of 1,282 BCF (Range 288 to 4,232 BCF) and unrisked P50 Prospective Resources of 769 BCF (Range 170 to 2,585 BCF).
First, we propose a solution to the actuarial problem of calculating a best estimate of outstanding claim liabilities.
The blue line is labeled as the 'ultimate' mortality improvement, defined as the best estimate assuming the effects of underwriting have worn off.
To put the rate of seepage into perspective, the total oil leaking into the oceans from natural seeps, and losses from production, transportation and consumption is estimated to be between 470,000 and 8,300,000 tonnes, with a best estimate of 1,300,000 tonnes.
Previously recognized positions should be adjusted as necessary to conform to the best estimate measurement rule of the proposed Interpretation (as modified by TEI's recommendations).
In addition the latest evaluation shows that there also remains 297bcf gross, or 49mmboe, of best estimate prospective resources of gas at Raniganj, Essar Energy said.
The company has reported a contingent resource best estimate of 2.
If the useful life stretches beyond the contract term but is not indefinite, CPAs must make their best estimate of the asset's useful life.
412(c)(3) requires that actuarial estimates be reasonable and offer the actuary's best estimate of the anticipated experience.
The result of these calculations, referred to as the "expected benefit obligation," involves using the best estimate of the underlying assumptions, such as retirement age, employee turnover, mortality, the frequency and cost of future medical services, and an appropriate discount rate.
herein called ACOR) (OTCBB:AUCAF) is pleased to announce that the operator of VIC/P54 states in their annual report that their best estimate of the 350 petajoules (PJ) gas contract along with the 4 million barrel condensate from the drilling of the Longtom 3 well on ACOR's ORRI is equivalent to approximately 57 million barrels of oil or approximately $2.