Proved or Proven Reserves
In context of natural gas, refers to the estimated quantities that are believed recoverable in future years from known reservoirs under existing economic and operating conditions. Volumes of natural gas placed in underground storage are not considered to be “proved reserves.” [Source: Energy Information Administration (EIA) Website: http://www.eia.gov/dnav/ng/TblDefs/ng_enr_nprod_tbldef2.asp]
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