El Guirri on Nostr: Part of that is proven reserves bullshit number within OPEC because thats how quotas ...

Part of that is proven reserves bullshit number within OPEC because thats how quotas calculated. Pump and pump and number never goes down. Also, what is proven exactly? You're gonna sell me an asset and give me some multi well propagated petrophysical characteristic model where you've assumed permeability of X with theoretical porosity percentage and an irreducible water saturation Y with immovable oil number pulled slightly out of your ass through whatever constants you threw in the model which might or might not have been calibrated to core. I'll sit on the other side of the table arguing for other constants and metrics to demonstrate a lower producible reserve estimation to get a better price. Which one is correct? Which one is used by governments or regulators? How does technological progress or drilling, completion and production methods move the needle? Fuck knows, it's just a good number!