Reserves definitions - PetroWiki


Equal to P1. Glossary of Petroleum Resources Management System - June 2018 (revised version) The process (and associated costs) of returning part or all of a project to a safe and environmentally compliant condition when operations cease. Examples include, but are not limited to, the removal of surface facilities, wellbore plugging procedures, and environmental remediation. In some instances, there may be salvage value associated with the equipment removed from the project. ADR costs are presumed to be without consideration of any salvage value, unless presented as "ADR net of salvage." Arithmetic summation of incremental categories may yield different results from probabilistic aggregation of distributions. Method used in resources estimation in the exploration and early development stages (including improved recovery projects) when direct measurement is limited. Based on evaluator's assessment of similarities of the analogous reservoir(s) together with the development plan.

Duplicate Docs Excel Report

None found

Similar Docs  Excel Report  more

None found