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Booking Geothermal Energy Reserves

Basic Information
Author: 
Sanyal, S.K.
Author: 
Sarmiento, Z.
Description: 
Formal booking of geothermal energy reserves, for accounting purposes or annual reporting to shareholders or portfolio management, is not yet a common practice among geothermal companies. In the petroleum industry booking of oil and gas reserves is a routine practice, and at least two geothermal operators that are subsidiaries of petroleum companies book geothermal reserves. As in the petroleum industry, the reserves should be booked in appropriate resource uncertainty categories. To this end we propose three reserve categories with reference to the cumulative probability of exceeding the estimated reserves level: "proved" (equivalent to the 90th percentile), "proved-plus-probable" (equivalent to the lesser of the median and most-likely values), and "proved plus probable-plus-possible" (equivalent to the 10th percentile). However, before any reserves are booked in the proved category, we believe prospects for commercial productivity from the reservoir should be demonstrated. For the purpose of booking, reserves can be expressed in kilowatt-hours and also in equivalent barrels of oil.
Publication Date: 
Sunday, January 1, 2006
Resource Language: 
English
Intelectual Originator Contact
Organization Name: 
GeothermEx, Inc.
Street Address: 
3260 Blume Drive,Suite 220
City: 
Richmond
State/Province: 
CA
Postal Code: 
94806
Country: 
United States
Phone: 
510-527-9876
Fax: 
510-527-8164
Resource Information
Access Statement: 
Abstract available online at http://www.geothermex.com/files/Sanyal_2005-7.pdf For a copy of this paper please e-mail us at mw@geothermex.com
Resource Distribution Contact
Organization Name: 
GeothermEx, Inc.
Street Address: 
3260 Blume Drive,Suite 220
City: 
Richmond
State/Province: 
CA
Postal Code: 
94806
Country: 
United States
Phone: 
510-527-9876
Fax: 
510-527-8164
Geographic Extent
North bounding latitude: 
41.8556
South bounding latitude: 
33.2322
West bounding longitude: 
-124.277
East bounding longitude: 
-113.555
Previous Citation
Bibliographic Citation: 
Subir K. Sanyal and Zosimo Sarmiento, 2005.Booking Geothermal Energy Reserves. GeothermEx, Inc., Richmond, California. Energy Development Corporation, Metro Manila, Philippines
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