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Oil and gas reserves estimates

JPT, Journal of Petroleum Technology

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Abstract

This article is a summary of a panel session at the 2005 Offshore Technology Conference. Oil and gas reserves estimates are further complicated with the expanding importance of the worldwide deepwater arena. These deepwater reserves can be analyzed, interpreted, and conveyed in a consistent, reliable way to investors and other stakeholders. Continually improving technologies can lead to improved estimates of production and reserves, but the estimates are not necessarily recognized by regulatory authorities as an indicator of "reasonable certainty," a term used since 1964 to describe proved reserves in several venues. Solutions are being debated in the industry to arrive at a reporting mechanism that generates consistency and at the same time leads to useful parameters in assessing a company's value without compromising confidentiality. Copyright 2005 Offshore Technology Conference.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Oil and gas reserves estimates
Series title:
JPT, Journal of Petroleum Technology
Volume
57
Issue:
9
Year Published:
2005
Language:
English
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
JPT, Journal of Petroleum Technology
First page:
60
Last page:
62
Number of Pages:
3