volumetric production

Volumetric production refers to the measurement and management of resource extraction, such as oil, gas, or minerals, based on the total volume produced over a specific period. It involves analyzing the quantity of material recovered from a well or reservoir to assess performance, optimize recovery strategies, and plan for future extraction. This approach ensures efficient resource utilization, accurate reporting, and cost management, helping companies make informed decisions about investment and operations. In essence, volumetric production provides a clear quantification of how much resource has been extracted, supporting sustainable and effective resource management.