Proved Undeveloped Reserves

Proved Undeveloped Reserves. Or "PUD" means those reserves attributable to wells to be drilled at locations which can be considered proved by virtue of favourable structural position and which can be anticipated with a high degree of certainty;

Proved Undeveloped Reserves. Means Proved Reserves expected to be recovered either (a) from new Wells, but limited to those drilling units (i) offsetting productive units that are reasonably certain of production when drilled or (ii) otherwise demonstrated with certainty to contain continuity of production from the existing productive formation, or (b) from existing Wells where a relatively major expenditure is required for recompletion, and in each case as further determined by reference to the definitions utilized by the... Society of Petroleum Engineers. View More

Proved Undeveloped Reserves. Proved Reserves which are categorized as "Undeveloped" in the Definitions