Resource Management

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August 31, 2024 3 min read Definitions

Reserve Replacement Ratio (RRR): A Key Metric in Resource Management

Finance Economics Resource Management Reserve Replacement Ratio RRR Resource Management Energy Sector Financial Metrics

Reserve Replacement Ratio (RRR) measures the amount of proved reserves added to a company's reserve base relative to the amount produced in a given year. This metric is essential for assessing a company's ability to sustain production levels.

August 31, 2024 3 min read Definitions

Unitization: Coordination of Operations to Optimize Resource Extraction

Energy Resource Management Unitization Resource Extraction Reservoir Management Oil and Gas Optimization

Unitization involves coordinating all operations within a given area or reservoir to optimize resource extraction, ensuring efficient and equitable distribution of resources, maximizing recovery, and minimizing environmental impact.