The Oil Drum | What the hell are oil reserves anyhow?

15 comments on What the hell are oil reserves anyhow?

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step back on November 13, 2005 - 2:00pm

Bubba,
Is there a difference between prove"N" reserves and prove"D" reserves?

Maybe I'm suffering another of those reality-distorting brain strokes, but I recall the term prove"N" reserves as the one more often tossed about by Yergin (who BTW was just on NBC with Squawk Chick Bartolova) and company.

Example:
http://www.washingtonpost.com/wp-dyn/content/article/2005/07/29/AR2005072901672.html

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Bubba on November 13, 2005 - 9:45pm

The SEC uses the term "proved". I don't know if Yergin et. al. is trying to make some subtle distinction between what the SEC definitions are and what other entities consider to be "proven".

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step back on November 13, 2005 - 10:16pm

Thanks,
According to one dictionary, proven and proved are basicaly equivalent:

http://www.m-w.com/cgi-bin/dictionary?book=Dictionary&va=proved

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15 comments on What the hell are oil reserves anyhow?

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