PETE 4190 Final Exam Complete And Study material 17pages LEARNEXAMS

______ are the quantities of hydrocarbons initially in place. ______ are those quantities of natural resources remaining to be produced. Resources, Reserves Resources are the quantities of hydrocarbons _______________________ initially in place __________ are the quantities of natural resources remaining to be produced. Reserves In order to be called ______, the oil and gas must be (1) physically producible, (2) economically producible. Reserves In order to be called reserves, the oil and gas must be (1) ___________________, (2) _________________________ physically producible economically producible T or F: Since reserves are remaining volumes, there is a timeline associated with each reserve estimate. True Since reserves are remaining volumes, there is a _______ associated with each reserve estimate. Timeline Since reserves are ___________________, there is a timeline associated with each reserve estimate. remaining volumes Reserves are not yet produced so they cannot be measured but ________ Estimated Original reserves at the time of discovery, which are going to be produced over the