TeachMeFinance.com - explain Reserve revisions
Reserve revisions --
Changes to prior year-end proved reserves estimates, either positive or negative, resulting from new information other than an increase in proved acreage (extension). Revisions include increases of proved reserves associated with the installation of improved recovery techniques or equipment. They also include correction of prior year arithmetical or clerical errors and adjustments to prior year-end production volumes to the extent that these alter reserves estimates.
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