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  2. Oil and gas reserves and resource quantification - Wikipedia

    en.wikipedia.org/wiki/Oil_and_gas_reserves_and...

    Flaring a flow test, the first outward indication of a new oil or gas discovery, which has the potential to qualify for reserves assessment. Oil and gas reserves denote discovered quantities of crude oil and natural gas (oil or gas fields) that can be profitably produced/recovered from an approved development.

  3. Resource consumption accounting - Wikipedia

    en.wikipedia.org/wiki/Resource_Consumption...

    Quantity-based modeling – the entire model is constructed using operational quantities. Operational data is the foundation of value creation and the leading indicator of economic outcomes. Cost behavior – value is added as a veneer to the quantity-based model and costs/dollars behavior is determined by the behavior of resource quantities as ...

  4. Economies of scale - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scale

    At the base of economies of scale there are also returns to scale linked to statistical factors. In fact, the greater of the number of resources involved, the smaller, in proportion, is the quantity of reserves necessary to cope with unforeseen contingencies (for instance, machine spare parts, inventories, circulating capital, etc.). [7]

  5. Quantity - Wikipedia

    en.wikipedia.org/wiki/Quantity

    The magnitude of an intensive quantity does not depend on the size, or extent, of the object or system of which the quantity is a property, whereas magnitudes of an extensive quantity are additive for parts of an entity or subsystems. Thus, magnitude does depend on the extent of the entity or system in the case of extensive quantity.

  6. Commodity - Wikipedia

    en.wikipedia.org/wiki/Commodity

    In the original and simplified sense, commodities were things of value, of uniform quality, that were produced in large quantities by many different producers; the items from each different producer were considered equivalent. On a commodity exchange, it is the underlying standard stated in the contract that defines the commodity, not any ...

  7. Allocation (oil and gas) - Wikipedia

    en.wikipedia.org/wiki/Allocation_(oil_and_gas)

    A traditional allocation practice will execute quantity calculations for crude oil, natural-gas condensate and produced water based on measured results from periodic, time-limited well tests. Natural gas flows from pure gas wells are usually measured continuously at or near the individual wellheads .

  8. Proven reserves - Wikipedia

    en.wikipedia.org/wiki/Proven_reserves

    If a reserve's resources can be recovered using current technology but is not economically profitable it is considered "technically recoverable" but cannot be considered a proven reserve. Reserves less than 90% recoverable but more than 50% are considered "probable reserves" and below 50% are "possible reserves".

  9. World energy resources - Wikipedia

    en.wikipedia.org/wiki/World_energy_resources

    Renewable resources are available each year, unlike non-renewable resources, which are eventually depleted. A simple comparison is a coal mine and a forest. While the forest could be depleted, if it is managed it represents a continuous supply of energy, vs. the coal mine, which once has been exhausted is gone.