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Proven reserves
Reserves that have been sampled extensively, for example--in mining--by closely spaced diamond drill holes or by underground working giving an accurate picture of size and quality of reserves. Also called measured reserves. In oil, proven reserves are an estimate based on seismic and other exploratory data, linked to an assessment of economic and operating viability.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Energy
- Category: Energy trade
- Company: Platts
- Product:
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