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Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to
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 ...
[10] [11] Proven reserves may be referred to as proven developed (PD) or as proven undeveloped (PUD). [ 11 ] [ 12 ] PD reserves are reserves that can be produced with existing wells and perforations, or from additional reservoirs where minimal additional investment (operating expense) is required ( e.g. opening a set of perforations already ...
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There is some disagreement on which country has the largest proven gas reserves. Sources that consider Russia in possession of the world's largest proven reserves include the US CIA (47,600 cubic kilometers), [ 2 ] the US Energy Information Administration (EIA) (49,000 km 3 ), [ 3 ] and OPEC (48,810 km 3 ). [ 4 ]
The university laid off 140 employees, lost another 76 through retirements and closed 35 unfilled positions. The painful cuts led UW-Oshkosh to recalculate its deficit to be in the $3 million to ...
The United States maintains a Strategic Petroleum Reserve at four sites on the Gulf of Mexico, with a total capacity of 727 million barrels (115.6 × 10 ^ 6 m 3) of crude oil. The maximum total withdrawal capability from the United States Strategic Petroleum Reserve is 4.4 million barrels (700,000 m 3) per day. This is roughly 32% of US oil ...