You got more from your existing wells, but did you classify them correctly?
In our whitepaper, Extending the Life (and Reserves) of PDP Wells, we discussed various ways the life of a PDP well can be extended and the resulting classifications. In this companion paper by Randy Freeborn, we show how Val Nav makes this easy for your teams with its unique ability to identify both the correct classification of the additional reserves when compared with other legacy reserves software.
When project life is extended because of PUD expenditures, the reserve
gain due to the extension must also be PUD.