Numbered Terms
The engineering term P90 refers to 90 percent engineering probability, is a commonly accepted specific definition by Society of Petroleum Engineers, it does not take into account anything except technical concerns. Therefore, it is different from the business term which does take into account current break-even profitability, and regulatory and contractual approval, but is considered a very rough equivalent. The definition is certainly not universal. Energy Watch Group uses a different definition, P95.
Read more about this topic: Proven Reserves
Famous quotes containing the word terms:
“My father and I were always on the most distant terms when I was a boya sort of armed neutrality, so to speak. At irregular intervals this neutrality was broken, and suffering ensued; but I will be candid enough to say that the breaking and the suffering were always divided up with strict impartiality between uswhich is to say, my father did the breaking, and I did the suffering.”
—Mark Twain [Samuel Langhorne Clemens] (18351910)