In the petroleum industry, proved reserves are
A) evidence that uncertainty is not a problem in the industry.
B) inevitably growing smaller over time.
C) the same thing as the current supply of petroleum.
D) resources recoverable at current prices and technology.

Question

Quizplus · Accepted Answer

Proved reserves refer to the quantity of petroleum that can be extracted with reasonable certainty under existing economic and operational conditions, including current prices and technology.

In the Petroleum Industry, Proved Reserves Are