Reserves definitions: Difference between revisions

: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.” [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)]

:An individual body of naturally occurring petroleum in a reservoir. [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)]

 

:The process of summing well, reservoir, or project-level estimates of resources quantities to higher levels or combinations, such as field, country or company totals. Arithmetic summation of incremental categories may yield different results from probabilistic aggregation of distributions. [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)]

 

: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. [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)]

:Reservoirs that have similar rock properties (e.g., petrophysical, lithological, depositional, diagenetic, and structural), fluid properties (e.g., type, composition, density, and viscosity), reservoir conditions (e.g., depth, temperature, and pressure) and drive mechanisms, but are typically at a more advanced stage of development than the reservoir of interest and thus may provide insight and comparative data to assist in estimation of 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)]

 

:The phase that may follow successful exploratory drilling. Activities to further evaluate the discovery, such as seismic acquisition, geological studies, and drilling additional wells may be conducted to reduce technical uncertainties and commercial contingencies. [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)]

 

:All necessary approvals have been obtained, capital funds have been committed, and implementation of the development project is underway. A project maturity sub-class of Reserves. [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)]

 

:See Evaluation. [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)]

 

'''Associated Gas'''

::A natural gas found in contact with or dissolved in crude oil in the reservoir. It can be further categorized as gas cap gas or solution 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)]