Reserves definitions: Difference between revisions

Reserves definitions (view source)

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Zachary Botkin (ZacharyBotkin)

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 ;'''Taxes'''&nbsp;
 :Enforced contributions to the public funds, levied on persons, property, or income by governmental authority [[#PRMS_2005|Glossary of Reserves/Resources Terminology - 2005]].
+; '''Taxes'''
+: Obligatory contributions to the public funds, levied on persons, property, or income by governmental authority. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Technical Forecast'''
+: The forecast of produced resources quantities that is defined by applying only technical limitations (i.e., well-flow-loading conditions, well life, production facility life, flow-limit constraints, facility uptime, and the facility’s operating design parameters). Technical limitations do not take into account the application of either an economic or license cutoff. (See also Technically Recoverable Resources) [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Technical Uncertainty'''
+: Indication of the varying degrees of uncertainty in estimates of recoverable quantities influenced by the range of potential in-place hydrocarbon resources within the reservoir and the range of the recovery efficiency of the recovery project being applied. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Technically Recoverable Resources'''
+: Those quantities of petroleum producible using currently available technology and industry practices, regardless of commercial or accessibility considerations. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Technology Under Development'''
+: Technology that is currently under active development and that has not been demonstrated to be commercially viable. There should be sufficient direct evidence (e.g., a test project/pilot) to indicate that the technology may reasonably be expected to be available for commercial application. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Tight Gas'''
+: Gas that is trapped in pore space and fractures in very low-permeability rocks and/ or by adsorption on kerogen, and possibly on clay particles, and is released when a pressure differential develops. It usually requires extensive hydraulic fracturing to facilitate commercial production. Shale gas is a sub-type of tight gas. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+; '''Tight Oil'''
+: Crude oil that is trapped in pore space in very low-permeability rocks and may be liquid under reservoir conditions or become liquid at surface conditions. Extensive hydraulic fracturing is invariably required to facilitate commercial maturity and economic production. Shale oil is a sub-type of tight oil. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
+;<div id="Total_petroleum_initially_in_place"> </div>Total Petroleum Initially In Place
+:All estimated quantities of petroleum that are estimated to exist originally in naturally occurring accumulations, discovered and undiscovered, before production. [http://info.specommunications.org/rs/833-LLT-087/images/PRMgmtSystem_V1.01%20Nov%2027.pdf?mkt_tok=eyJpIjoiTWpZNU1XWmtZMlZtWm1ReSIsInQiOiJ3WnJLWFF2RmNXamhJbGtLdXZRYlcwVTV1WmdSMFNnNUd3UzE2QUF0bUV0bGQrOFNJMHpIM1ppMHNJSFRZOStMU09DV1pBZ0N6Y2taanlQZU0zSkR1WEpaZjdsSGV2MG5iSGlCQmloSzNGbUpHbnhueTQ3bjFpWkJMcklDTGppSSJ9 Glossary of Petroleum Resources Management System - June 2018 (revised version)]
 ;<div id="Total_petroleum_initially_in_place">'''Total petroleum initially in place'''</div>&nbsp;