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ENERGY RESERVES Definition & Legal Meaning

Definition & Citations:

Calculated unused physical energy sources. Source examples are coal, gas, and oil. Known to exist with reasonable certainty. Calculated on the basis of geologic and engineering data identifying proved reserves. Projection drawn on the basis of these proved reserves. Factored in the ease of extracting reserves at an economically viable cost with technology presently available. Refer to demonstrated reserves and probable reserves.


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