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Resource estimates are undiscovered volumes, or volumes that have not yet been drilled and flowed to surface. A non-reserve resource, by definition, does not have to be technically or commercially recoverable and can be represented by a single, or an aggregate of multiple potential accumulations, e.g. an estimated geological basin resource. [14]
2P – proved and probable reserves; 3C – three components seismic acquisition (x, y, and z) 3C – Proved, probable and possible contingent resources; 3D – three-dimensional ; 3P – proved, probable and possible reserves; 4D – multiple 3Ds acquired over time (the 4th D) over the same area with the same parameters
Proven reserves (also called measured reserves, 1P, and reserves) is a measure of fossil fuel energy reserves, such as oil and gas reserves and coal reserves. It is defined as the "quantity of energy sources estimated with reasonable certainty, from the analysis of geologic and engineering data, to be recoverable from well established or known ...
The reserve portion of the ratio is the amount of a resource known to exist in an area and to be economically recoverable (proven reserves). The production portion (denominator) of the ratio is the amount of resource produced in one year at the current rate. [1] RPR = (amount of known resource) / (amount used per year)
Renewable resources account for more than 93 percent of total U.S. energy reserves. Annual renewable resources were multiplied times thirty years for comparison with non-renewable resources. In other words, if all non-renewable resources were uniformly exhausted in 30 years, they would only account for 7 percent of available resources each year ...
Classification and management of natural resources such as minerals and petroleum are classified using differing schemes. [4] [5] In 1997, UNECE published the United Nations Framework Classification for Reserves and Resources of Solid Fuels and Mineral Commodities (UNFC-1997) as a unifying international system for classifying solid minerals and fuels. [6]
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...