Reserves definitions: Difference between revisions

:Natural bitumen is the portion of petroleum that exists in the semi-solid or solid phase in natural deposits. In its natural state it usually contains sulphur, metals and other non-hydrocarbons. Natural Bitumen has a viscosity greater than 10,000 centipoises measured at original temperature in the deposit and atmospheric pressure, on a gas free basis. In its natural viscous state, it is not normally recoverable at commercial rate through a well. Natural Bitumen generally requires upgrading prior to normal refining. (Also called Crude Bitumen) [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Natural gas''' 

:Natural Gas is the portion of petroleum that exists either in the gaseous phase or is in solution in crude oil in natural underground reservoirs, and which is gaseous at atmospheric conditions of pressure and temperature. Natural Gas may include amounts of non-hydrocarbons [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Natural gas liquids''' 

:Natural Gas Liquids are those portions of natural gas which are recovered as liquids in separators, field facilities or gas processing plants. Natural Gas Liquids include but are not limited to ethane, propane, butanes, pentanes, and natural gasoline. Condensate may or may not be included [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Natural gas liquids to gas ratio''' 

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;'''Net profits interest''' 

:An interest that receives a portion of the net proceeds from a well, typically after all costs have been paid [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Net working interest''' 

:A company’s working interest reduced by royalties or share of production owing to others under applicable lease and fiscal terms [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Non hydrocarbon gas''' 

:In the event that non-hydrocarbon gases are present, the reported volumes should reflect the condition of the gas at the point of sale. Correspondingly, the accounts will reflect the value of the gas product at the point of sale. Hence, if gas sold as produced includes a proportion of carbon dioxide, for example, the reserves and production should also include that CO2. In the case of the CO2 being extracted before sale and the sales gas containing only hydrocarbon gases, the reserves and production should reflect only the hydrocarbon gases that will be sold [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;'''Non-conventional gas''' 

:Non-Conventional Gas is a natural gas found in unusual underground situations such as very impermeable reservoirs, hydrates, and coal deposits [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

;<div id="Non-producing">'''Non-producing'''</div>

;'''Non-producing reserves'''&nbsp;

:Reserves subcategorized as non-producing include shut-in and behind-pipe reserves. Shut-in reserves are expected to be recovered from (1) completion intervals which are open at the time of the estimate, but which have not started producing, (2) wells which were shut-in for market conditions or pipeline connections, or (3) wells not capable of production for mechanical reasons. Behind-pipe reserves are expected to be recovered from zones in existing wells, which will require additional completion work or future recompletion prior to the start of production [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].

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