Which reserves have a 50% probability of producing?

Which reserves have a 50% probability of producing?

• A. Proven Reserves
• B. Probable Reserves
• C. Possible Reserves
• D. Contingent Resources

Answer: (B)

Probable reserves are the category assigned a 50% chance of actually being produced under existing conditions. In reserve estimation, the probability levels represent how confident we are that the amount can be recovered: Proved reserves require a higher level of certainty (about 90%), Possible reserves carry a lower level (around 10%), and Contingent Resources are not yet classified as reserves because they depend on future developments or approvals. So, the 50% probability fit most closely with Probable Reserves, the midpoint level of confidence.

Probable reserves are the category assigned a 50% chance of actually being produced under existing conditions. In reserve estimation, the probability levels represent how confident we are that the amount can be recovered: Proved reserves require a higher level of certainty (about 90%), Possible reserves carry a lower level (around 10%), and Contingent Resources are not yet classified as reserves because they depend on future developments or approvals. So, the 50% probability fit most closely with Probable Reserves, the midpoint level of confidence.