A reserves evaluation is the process of forecasting estimated
petroleum volumes, often called future production profiles,
anticipated to be commercially, economically and technically
recoverable from producing and planned wells in known oil and gas
accumulations. The consultant classifies oil and gas reserves as
proved, probable and possible. Proved has the highest certainty
level that an estimate of ultimate recovery will be reached or
exceeded. Probable and possible have relatively lower confidence
levels, respectively.
In the upstream petroleum industry, managers base their decisions
on reserves numbers derived from technical and economic analyses.
Whether it’s estimated petroleum reserves, future production rates
or expected net income, management often needs outside reassurances
that those figures are reliable. So they turn to Atacan Energy for a
comprehensive, reliable reserves evaluation.
