2p 2c reserves
Reserves and resources are the volumes of oil gas and other hydrocarbons that are estimated to be commercially recoverable from the bedrock at our licences. The EV2P ratio is a ratio used to value oil and gas companies. Update To Prms S Classification And Categorization Concept Ambiguities Removed And Remained Block 27 - Exploration. . Similarly 2P reserves have a 50 chance of recovering the estimated quantities and 3P reserves have at least a 10 chance of recovering those quantities. Proved plus probable 2P reserves were 933 million barrels of oil equivalent mmboe at the end of 2020 an increase of 34 mmboe before production. 2P reserves Defined by the internationally-recognised Petroleum Resources Management System as 1P proven reserves plus 2P probable reserves. Consider 1P reserves as the equivalent of having caught and landed a fish it is certain and in hand. A decent analogy for the difference between these categories