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proved reserves |
Also found in: Financial | 0.04 sec. |
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proved reserves [′prüvd ri′zərvz] (petroleum engineering) The estimated quantities of crude-oil liquids which with reasonable certainty can be recovered in future years from delineated reservoirs under existing economic and operating conditions. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| RAM Energy Resources (Nasdaq:RAME) announced today that the estimate of the company's proved reserves at June 30, 2007 totaled 19. Pioneer estimates that this acreage holds approximately 124 billion cubic feet (Bcf) of potential coal bed methane ("CBM") reserves, consisting of approximately 95 Bcf of estimated proved reserves and an additional 29 Bcf of resource potential. The company previously reported year-end 2006 proved reserves of approximately 700 billion cubic feet equivalent (Bcfe). |
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