... Abstract The Petroleum Resources Management System (PRMS) ( PRMS, 2018 ) and many regulatory agencies (e.g. US Securities and Exchange Commission – US SEC) require "Reasonable Certainty" for Proved Reserves estimates. The PRMS states that Reasonable Certainty can be demonstrated by use...

... of comment letter exchanges indicates that the SEC also requires "reasonable certainty" that a "Final Investment Decision" will be reached to classify resources as reserves, essentially the same as the PRMS requirement for "Justified for Development" status. Comment letter exchanges indicate...

... reserves to "reasonably certain", using "reliable technology" as evidence to support reasonable certainty of economic producibility at distances greater than one immediate offset location, and the five year rule. The amended Regulation S-X does not specify the number of offsetting PUD locations that may...

.... The focus is on deterministic, rather than probabilistic approaches, and we deal with the technical assessment of gross reserves i.e. whether the estimate of gross recoverable quantities from simulation meets the standard of Reasonable Certainty required for proved reserves. The section on evidenced...

.... contingent resources), to properly capture the downside and upside risks, uncertainty ranges and project business opportunities, truly reflecting the project's reasonable certainty at the P90 level. Gas projects are preferred to illustrate this approach. For gas commitment purposes, many buyers require...

... replacement reserves evaluation spee reliable technology reserves classification eur distribution seed well dataset reasonable certainty statistics performance area secondary axis pud location statistical analysis woodford asset and portfolio management aggregation factor protocol...

... Abstract Historically, oil and gas reserves definitions have included the term "reasonable certainty" when describing the standard of high confidence/low uncertainty for a conservative estimate of future recovery from an accumulation. In 2008, the U.S. Securities and Exchange Commission (SEC...

... evaluation hydrocarbon reasonable certainty potential interpretation issue analogous reservoir requirement the SEC possible reserve reservoir undeveloped reserve oil and gas disclosure requirement accumulation Introduction The US Securities and Exchange Commission's (SEC) oil and gas...

... evaluation information proved reserve requirement probability registrant guideline PRM Upstream Oil & Gas category the SEC disclosure reasonable certainty reserve estimate reservoir possible reserve Introduction A technical standard is an established norm or requirement...

...? Are the SPE/WPC definitions of Proved oil and gas reserves much more realistic and responsive to today's comparable reporting needs? Has the meaning of the word ‘Proved' changed over the last twenty-five years? Has the meaning of the expression ‘Reasonable Certainty’ changed over the last twenty...

... information producer quantity reporting significant difference asset and portfolio management north america government united states securities reasonable certainty united states government definition exchange commission reserve definition reserves classification spe 84145 certainty sec...

...–10(a) of Regulation S-X as follows: 1 "Proved oil and gas reserves are the estimated quantities of crude oil, natural gas, and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing...