Proved developed producing definition
Proved developed producing means reserves expected to be recovered from currently producing zones under continuation of present operating methods. This category includes recently completed shut-in gas wells scheduled for connection to a pipeline in the near future.
Proved developed producing means proved reserves that can be expected to be recovered from currently producing zones under the continuation of present operating methods.
Proved developed producing. (PDP) reserves means those reserves denominated as such and determined in accordance with the methods commonly accepted by the Society of Petroleum Engineers for evaluating oil and gas reserves.
More Definitions of Proved developed producing
Proved developed producing. Proved Developed Non Producing", "Proved Developed Behind Pipe", "Proved Developed Shut-in", other "Proved Developed Non Producing" and "Proved Undeveloped", (ii) take into account any "over-produced" status under gas balancing arrangements, and (iii) contain information and analysis comparable in scope to that contained in the Initial Engineering Reports. Accompanying each Engineering Report, the Borrower shall deliver a report reflecting the occurrence of the following events since the date of the most recent Engineering Report: