What is not included in estimates of proved crude oil reserves?
Estimates of proved crude oil reserves do not include the following: • “Indicated additional reserves,” a category of oil that is reported separately and may become available from known reservoirs through the application of improved recovery techniques using current technology • Natural gas liquids (including lease condensate) • Oil of doubtful recovery because of uncertainty as to geology, reservoir characteristics, or economic factors • Oil that may occur in undrilled prospects • Oil that may be produced from oil shales, coal, Gilsonite (asphalt), and other such sources Stated in simpler terms, proved reserves only include conventional oil in fields that have already been drilled and were determined to be economical to produce at a time when oil prices were much lower than they have been for several years. U.S. proved reserves do not include the following: Unproved recoverable reserves estimated at over 142 billion barrels. ANWR 1002 area recoverable resources estimated at 10 billion
