Defining O&G Reserves: Proved, Recoverable & In-Place

A handy graphic and article from our favorite government agency, the U.S. Energy Information Administration, explains the differences in what companies call their “reserves”–how much gas and oil they have in the ground, ready to be extracted. You often hear or read of “proved reserves.” How does that category differ from “economically recoverable” and “technically recoverable” reserves? And what about this nebulous “oil and gas in place”? EIA’s helpful primer ‘splains it to us…

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