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Reserves Classification Overview

This document discusses reserves classification systems. It defines resources and reserves, and explains the key factors in determining reserves like technical and commercial certainty. Reserves estimates are based on current economic conditions and established operating practices. Reserves are classified as proved, probable or possible depending on the certainty of recoverability. Proved reserves can be estimated with reasonable certainty, probable reserves are less certain than proved, and possible reserves have low certainty. Proved reserves are further classified as developed or undeveloped, producing or non-producing, and primary or secondary.

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69 views7 pages

Reserves Classification Overview

This document discusses reserves classification systems. It defines resources and reserves, and explains the key factors in determining reserves like technical and commercial certainty. Reserves estimates are based on current economic conditions and established operating practices. Reserves are classified as proved, probable or possible depending on the certainty of recoverability. Proved reserves can be estimated with reasonable certainty, probable reserves are less certain than proved, and possible reserves have low certainty. Proved reserves are further classified as developed or undeveloped, producing or non-producing, and primary or secondary.

Uploaded by

zain834
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
  • Introduction to Reserves Classification
  • Resources and Reserves Overview
  • Reserves Explanation and Classification
  • Development Status of Reserves
  • Types of Reserves
  • Reserves Classification Diagram

Reserves Classification

Khalid Amin Khan


aminkhan@kaminkhan@[Link]

Reserves
Important Defining Factors


Increasing Technical Certainty

Increasing Commercial Certainty

Resources & Reserves




The terms Resources and Reserves include all types


of petroleum whether currently considered
CONVENTIONAL or UNCONVENTIONAL

SPE-PRMS and the New SEC Rules use a unique set of


definitions and a unique classification system,
appropriate for:






all types of petroleum accumulations


regardless of their in-place characteristics
extraction methods applied
degree of processing required
SPE-PRMS: Petroleum Resources Management System
SEC: Security and Exchange Commissions

Resources


Petroleum resources are defined as the oil and


gas originally in place estimated by the existing
petroleum technological methods.

Reserves


Reserves are estimated volumes of crude oil,


condensate, natural gas, natural gas liquids,
and associated substances anticipated to be
commercially recoverable from known
accumulations from a given date forward,
under existing economic conditions, by
established operating practices, and under
current government regulations.

Reserves estimates are based on interpretation


of geologic and/or engineering data available
at the time of the estimate.

Reserves Classification
Proved
Unproved

Probable

Possible

Reserves Classification


Proved
Proved reserves can be estimated with
reasonable certainty to be recoverable under
current economic conditions (prices and costs
prevailing at the time of the estimate). Proved
reserves may be developed or undeveloped.

Reserves Classification


Unproved
Unproved reserves are based on geologic
and/or engineering data similar to that used in
estimates of proved reserves; but technical,
contractual, economic, or regulatory
uncertainties preclude such reserves being
classified as proved. They may be estimated
assuming future economic conditions different
from those prevailing at the time of the
estimate.

Reserves Classification
Unproved


Probable
Probable reserves are less certain than proved
reserves and can be estimated with a degree of
certainty sufficient to indicate they are more
likely to be recovered than not.

Possible
Possible reserves are less than probable
reserves and can be estimated with a low
degree of certainty, insufficient to indicate
whether they are more likely to be recovered
than not.

Proved Reserves


Developed Reserved
Reserves which are recoverable through
existing wells and with existing facilities.

Undeveloped Reserves
Reserves under undeveloped spacing units
which are so close and so related to developed
spacing units that they may be assumed with
confidence to become commercially productive
when drilled.

Developed Reserves


Producing Reserves
Reserves to be produced by existing wells from
completion intervals open to production.

NonNon-Producing Reserves
Reserves to be produced from existing wells
but which are now behind the casing or at
minor depths below the bottom of the hole.

Reserves Classification


Primary Reserves
Reserves that are recoverable commercially at
the current prices and costs by conventional
methods and equipment as a result of natural
energy inherent in the reservoir.

Secondary Reserves
Reserves that are recoverable commercially at
the current prices and costs by secondary
operations.

Reserves Classification

Reserves Classification Reserves Classification Reserves Classification Reserves Classification Reserves Classification Reser
u0001 The terms Resources and Reserves include all types of petroleum whether currently considered “CONVENTIONAL” or “UNCONVENT
u0001 Reserves are estimated volumes of crude oil, condensate, natural gas, natural gas liquids, and associated substances anti
u0001 Proved Proved Proved Proved Proved reserves can be estimated with reasonable certainty to be recoverable under current ec
u0001 Probable Probable Probable Probable Probable reserves are less certain than proved reserves and can be estimated with a de
u0001 Producing Reserves Producing Reserves Producing Reserves Producing Reserves Reserves to be produced by existing wells from
Reserves Classification Reserves Classification Reserves Classification Reserves Classification Reserves Classification Reser

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