Reserve replacement definition

Reserve replacement means the calculation derived by dividing additions to reserves from acquisitions, extensions, discoveries and revisions of previous estimates in a year by total production in that year.
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Reserve replacement shall be calculated as the Company’s reserve replacement ratio (additions and technical revisions divided by production, subject to adjustment for acquisitions and divestitures).
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Reserve replacement means the calculation derived by dividing additions to reserves from
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Examples of Reserve replacement in a sentence

  • Seabee has been in continuous operation for 30 years and has demonstrated a track record of continued Mineral Reserve replacement that SSR Mining expects to continue into the future.

  • Reserve replacement process (RRP) (Tertiary regulation) 85Article 158.

  • Reserve replacement continues to be high on the agenda in the coming years, although the ACG acquisition was a significant milestone towards getting closer to the mid-term reserves ambitions.

  • Reserve replacement in 1998 was 260% and 170 Bcfe, primarily the result of acquiring an estimated 150 Bcfe of proved oil and gas reserves, primarily in Oklahoma, as well as in Texas, Arkansas and Louisiana.

  • EPN consists of seven business units (Statoil 2010h): • Exploration • Operations North• Reserve replacement development • Drilling and Well• Operations West • Operational development• Operations North Sea 4.2 RESEARCH AREA The research are for this thesis is limited to three of the seven business units in EPN; Operational Development, Drilling and Well and Operations North.

  • Reserve replacement Organic reserve replacement ratio surged to 193% in 2016, the best ever performance in Eni's history, contributing to a 150% average in the last three years.

  • The main achievements regarding the Pitting & Production segment in 2011 were:• Average annual output of over 173,700 boe/day achieved in Romania• Reserve replacement rate in Romania maintained at 70% for the fourth consecutive year• Production costs in Romania fell 1% in USD and 5% in ROL compared to 2010.Below, we present some statistics regarding the main microeconomic indicators of Petrom Company.

  • Although as a Capital Reserve replacement item, they are scheduled to be replaced in 2020, the Board can accelerate this time line.

  • The reviews have not identified any material issues with these procedures or results.The Co-O Mine has a long history of Ore Reserve replacement by way of diamond drilling and conversion of Indicated Resources (Graph 3).

  • Overview of Projects: Figure 8 – Silver Lake’s asset portfolio Mount Monger (100% Silver Lake) Mount Monger is located approximately 50km southeast of Kalgoorlie and is a highly endowed gold operation with multiple mines and a history of Reserve replacement and discovery.

Related to Reserve replacement

  • Replacement Assets means (1) non-current tangible assets that will be used or useful in a Permitted Business or (2) all or substantially all of the assets of a Permitted Business or a majority of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof a Restricted Subsidiary.

  • LIBOR Replacement Date has the meaning specified in Section 3.03(c).

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Replacement Loans has the meaning specified in Section 10.01.

  • Replacement Value means the price, including accrued interest, at which Equivalent Securities to the Borrowed Securities could be purchased in the principal market for such securities at the time of election by State Street under Section 13.1 hereof.

  • Replacement Benchmark means a benchmark rate which is:

  • Replacement Rate has the meaning assigned thereto in Section 4.2.(b).

  • Benchmark Replacement means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

  • Benchmark Replacement Date means the earliest to occur of the following events with respect to the then-current Benchmark:

  • Replacement Energy means energy purchased by Buyer as replacement for any Delivery Failure relating to the Energy to be provided hereunder.

  • Replacement Lender shall have the meaning provided in Section 2.13.

  • Replacement unit means a landfill, surface impoundment, or waste pile unit (1) from which all or substantially all of the waste is removed, and (2) that is subsequently reused to treat, store, or dispose of hazardous waste. “Replacement unit” does not apply to a unit from which waste is removed during closure, if the subsequent reuse solely involves the disposal of waste from that unit and other closing units or corrective action areas at the facility, in accordance with an approved closure plan or EPA or State approved corrective action.

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: