What is the definition of Proved reserves? | Dictionary.net

PROVED RESERVES

\pɹˈuːvd ɹɪsˈɜːvz], \pɹˈuːvd ɹɪsˈɜːvz], \p_ɹ_ˈuː_v_d ɹ_ɪ_s_ˈɜː_v_z]\

Definitions of PROVED RESERVES

1910 - Black's Law Dictionary (2nd edition)

Sort: Oldest first

The levels of a resource such as coal, oil and gas that is estimated with an amount of certainty after study of geological and engineering factors that can be removed from a current operation using its current levels of equipment.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

Word of the day

ASSESSED VALUATION

This term applies to the precise value of property upon which taxes need be paid.

View More

Nearby Words