Define: PDP Reserves

How is PDP Reserves defined in a legal contract?

• PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the given criteria, put forth by recognised Petroleum Evaluation Engineers, and that are in effect at the specified time, and deemed acceptable to the [organization]. Seen in 32 SEC filings
• PDP Reserves means “proved developed producing oil and gas reserves” as defined by the Society of Petroleum Engineers in its established guidelines. Seen in 12 SEC filings
• PDP Reserves means Proven Reserves which are both ""Developed"" and ""Producing"" according to the definitions set by recognized organizations such as the Society of Petroleum Evaluation Engineers and the World Petroleum Congress. Seen in 12 SEC filings
• PDP Reserves means the Proved Reserves that are expected to be produced using existing resources and procedures. Seen in 8 SEC filings
• PDP Reserves means “proved developed producing reserves” as defined by the Board of Directors of the Society for Petroleum Engineers. Seen in 8 SEC filings
• PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the criteria for Oil and Gas Definitions. Seen in 7 SEC filings
• PDP Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” according to the criteria set by the Society of Petroleum Engineers and the World Petroleum Congress. Seen in 7 SEC filings
• PDP Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” according to such definitions. Seen in 5 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of pdp reserves' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• PDP Reserves means Proven Reserves categorized as developed and producing under prevailing norms.

Relevant Contract Type

• Oil and Gas Lease Agreement
• Resource Development Agreement
• Joint Operating Agreement
• Production Sharing Agreement

Relevant Circumstances

• Exploration activities involving estimates of proven reserves
• Financial auditing and reporting of reserve quantities
• Resource project financing agreements
• Business ecosystem and partnerships involving resource production

Relevant Sectors

• Oil and Gas Industry
• Mining Industry
• Energy Industry

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Genie Definition 2

• PDP Reserves means Proved Reserves expectedly produced through existing resources and procedures.

Relevant Contract Type

• Oil and Gas Lease Agreement
• Resource Development Agreement
• Joint Operating Agreement
• Production Sharing Agreement

Relevant Circumstances

• Exploration and production activities in existing oil and gas fields
• Auditing and reporting of reserve quantities in use
• Asset management and valuation in energy sector
• Project finance dealings within resource development

Relevant Sectors

• Oil and Gas Industry
• Mining Industry
• Energy Industry

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