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Shale Gas & Oil Terminology Explained: Reserves and Estimates
The document provides a glossary of terms for shale gas and oil resources. It distinguishes between undiscovered resources (believed to exist but not precisely located) and discovered resources. It further differentiates between technical recoverability (extractable using current technology) and economic recoverability (financially feasible based on market conditions). Finally, it categorizes reserves by certainty levels: proven (usually >90% certainty), probable, possible, and other (inferred or indicated) reserves.
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Document type: Fact sheet
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