Proved Developed Reserves definition

Proved Developed Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves” or (b) “Developed Non-Producing Reserves.”

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Proved Developed Reserves means proved reserves which can be expected to be recovered through existing wells with existing equipme▇▇ ▇▇d operating methods. This classification shall include:

Proved Developed Reserves means the sum of Proved Developed Producing Reserves and Proved Developed Nonproducing Reserves, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

Examples of Proved Developed Reserves in a sentence

• Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery shall be included as Proved Developed Reserves only after testing by a pilot project or after the operation of an installed program has confirmed through production responses that increased recovery will be achieved.

• These are Proved Developed Reserves which exist behind the casing of existing ▇▇▇▇▇, or in minor depths below the present bottom of such ▇▇▇▇▇, which are expected to be produced through these ▇▇▇▇▇ in the predictable future, where the cost of making such oil and gas available for production should be relatively small compared to the cost of a new well.

• In no event shall the Proposed Borrowing Base exceed the Maximum Revolver Amount nor shall Proved Developed Reserves constitute less than 75% of the Borrowing Base total value.

• So long as the Second Lien Term Loan Agreement is in effect, the Borrower will not permit, as of any Asset Coverage Test Date, the ratio of (a) the NYMEX Value of the total Proved Developed Reserves of the Loan Parties as shown on the most recently delivered Reserve Report, to (b) Total Debt, to be less than 1.10 to 1.00.

• The Issuer shall not cause or permit the ratio of the PV 10 of its Proved Developed Reserves to its Net Debt, at any time, to be less than .8 to 1.0.

More Definitions of Proved Developed Reserves

Proved Developed Reserves means reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery will be included as "proved developed reserves" only after testing by a pilot project or after the operation of an installed program has confirmed through production response that increased recovery will be achieved.

Proved Developed Reserves means reserves that can be expected to be recovered through existing wells with existing equipment and operating methods.

Proved Developed Reserves means reserves that can be expected to be recovered (i) through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and (ii) through installed extraction equipment and infrastructure operational at the time of the reserves estimate if the extraction is by means not involving a well.

Proved Developed Reserves means reserves that can be expected to be recovered through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well.

Proved Developed Reserves means those proved reserves that can be expected to be recovered through existing wells and facilities and by existing operating methods.

Proved Developed Reserves means oil and gas reserves that can be expected to be recovered through existing ▇▇▇▇▇ with existing equipment and operating methods.

Proved Developed Reserves means all Oil and Gas Interests which, to the satisfaction of the Agent, are estimated, with reasonable certainty, and as demonstrated by geological and engineering data acceptable to the Agent, to be economically recoverable from existing ▇▇▇▇▇ requiring no more than minor workover operations from existing completion intervals open for production and which are producing, and have proven reserves of, Hydrocarbons.