Definition of Extensions, discoveries, and other additions

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TeachMeFinance.com - explain Extensions, discoveries, and other additions



Extensions, discoveries, and other additions

The term 'Extensions, discoveries, and other additions' as it applies to the area of energy can be defined as ' Additions to an enterprise's proved reserves that result from(1) extension of the proved acreage of previously discovered (old) reserves through additional drilling in periods subsequent to discovery and (2) discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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