probable reserves

probable reserves

[′präb·ə·bəl ri′zərvz]
(petroleum engineering)
Primary petroleum reserves based on limited evidence, but not proved by a commercial oil-production rate.
References in periodicals archive ?
Despite mine production depletion, there has been a 7% increase in tonnes of Proven and Probable Reserves compared to the Mineral Reserve estimate in the previous Technical Report.
LONDON (Alliance News) - MX Oil PLC on Thursday said an updated report shows increased gross proved and probable reserves at the Aje oil and gas field in offshore Nigeria.
Leagold's measured and indicated resources have increased to 16.4 million oz and proven and probable reserves have increased to 5.6 million oz, Woodyer added.
FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum.
It has proven reserves of ~290,000 barrels and probable reserves of ~600,000 and the potential to reach 400 barrels of oil equivalent per day (BOPD) from a current rate of 65 BOPD
Contura subsidiaries controlled approximately 600m tons of proven and probable reserves in the PRB.
The thermal coal-producing Cordero Rojo operation reported proven and probable reserves of 267 million tons at the end of last year.
The volume of proved and probable reserves of the company's core assets (UMG and EMG) as at the end of 2011 was 226mt (1.7bn bbl).
The company already owns the Koltogor licence in Siberia, with probable reserves of more than 70m barrels of oil, which it is looKing to develop for commercial production.
The assets include proven and probable reserves estimated at 978 billion cubic feet equivalent, 90 per cent of which is gas.
Afren also noted that following the move its pro forma net proved and probable reserves would rise by 29% to about 270 million barrels of oil equivalent (Mmboe).
Andina owns the Dorado deposit, with proved and probable reserves of 6.6 million ounces of gold.

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