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Glossary:Offset well location
Potential drill location adjacent to an existing well. The offset distance may be governed by well spacing regulations. Proved volumes on the existing well are indicated by either conclusive formation test or production. For proved volumes to be assigned to an offset well location there must be conclusive, unambiguous technical data which supports the reasonable certainty of production of hydrocarbon volumes and sufficient legal acreage to economically justify the development without going below the shallower of the fluid contact or the lowest known hydrocarbon. (SPE)