reserve estimation

Reserve estimation is the process of determining how much oil or gas is physically and economically recoverable from a particular reservoir. It involves analyzing geological, geophysical, and production data to assess the size, quality, and remaining quantities of resource that can be extracted profitably. Accurate estimates help companies plan production, investments, and management strategies, ensuring resources are used efficiently and sustainably. Essentially, reserve estimation tells us how much of the underground resource is accessible and financially viable to produce now or in the future.