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)

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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

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