Reserve Estimation Methods for Mineral Deposits Workflow
Estimate mineral reserves using various methods including In-Situ Resource Estimate, Reserve Classification, and Cut-Off Grade Determination.
Reserve Estimation
Data Collection
Geological Model Development
Resource Classification
Reserve Estimation Calculation
Sensitivity Analysis
Risk Assessment
Report Preparation
Quality Assurance
Revision and Updates
Approval and Verification
Reserve Estimation
Type: Fill Checklist
Business Workflow Step: Reserve Estimation This process involves evaluating geological data to estimate the in-place resources of oil or gas. It begins with an assessment of existing seismic, well log, and drilling information, followed by a review of pertinent historical and environmental factors that may impact reserve potential. Geologists utilize specialized software to generate three-dimensional (3D) models of subsurface rock formations, taking into account spatial distribution, porosity, and fluid saturation. Next, they apply established techniques such as volumetric calculations or probabilistic methods to estimate in-place volumes of hydrocarbons. This step also involves evaluating the uncertainty associated with these estimates using statistical methods or Monte Carlo simulations. The outcome is a reserve estimation that provides an informed basis for future exploration and production activities within the subject area.
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