Richardkluge t1_j8hp1te wrote on February 14, 2023 at 11:43 AM Reply to comment by Birdy_Cephon_Altera in [OC] New Mexico Now Produces More Oil Than Mexico & Venezuela by latinometrics As others have noted, proved reserves (in the US) should not be used this way. They are a financial definition used to support loans for drilling. You can increase proven reserves by drilling more test wells. USGS estimate of oil reserves for those who are curious: https://www.usgs.gov/news/national-news-release/usgs-announces-largest-continuous-oil-assessment-texas-and-new-mexico Permalink Parent 1
Richardkluge t1_j8hp1te wrote
Reply to comment by Birdy_Cephon_Altera in [OC] New Mexico Now Produces More Oil Than Mexico & Venezuela by latinometrics
As others have noted, proved reserves (in the US) should not be used this way. They are a financial definition used to support loans for drilling. You can increase proven reserves by drilling more test wells. USGS estimate of oil reserves for those who are curious: https://www.usgs.gov/news/national-news-release/usgs-announces-largest-continuous-oil-assessment-texas-and-new-mexico