proved reserves


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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.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Gross proved reserves equate to 82.4 million barrels of oil equivalent and MX Oil's attributable proved reserves total 5.2 million barrels of oil equivalent.
The year-end 2018 proved reserves net to Murphy were 816 million barrels of oil equivalent of which 16 percent or 129 Mmboe were attributable to Malaysia.
US-based Exxon Mobil Corporation, a global energy company, said has added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 per cent of the year's production.ExxonMobil's proved reserves totalled 24.3 billion oil-equivalent barrels at year-end 2018.
said estimated proved reserves at the end of 2018 totaled 72.5 million barrels of oil equivalent.
For the full-year 2017, the production and year-end proved reserves associated with the 16.5% interest in the Clair Field were approximately 3,000 barrels of oil equivalent per day (MBOED) and approximately 40m barrels of oil equivalent (MMBOE), respectively.
Both its oil and gas proved reserves and proved and probable reserves continued to decline in 2017.
Bahrain announced on Wednesday the size of the oil reserves in the giant discovery that it had made, and figures dwarf the proved reserves that the island kingdom in the Persian Gulf had prior to the latest oil find.
The company's proved reserves totalled 24.8 billion barrels of oil and natural gas at the end of 2015, enough to last 16 years.
* Estimated proved reserves of approximately 420 Bcfe, of which 100% are natural gas, 95% are classified as proved developed producing and operated.
proved reserves of crude oil and lease condensate increased for the fifth year in a row in 2013 and exceeded 36 billion barrels for the first time since 1975.
Proved reserves of crude stood at 30.5b barrels at start of 2013