Chesapeake Energy 1998 Annual Report Download - page 35

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Proved Reserves. The estimated quantities of crude oil, natural gas and natural gas liquids which geological and
engineering data demonstrate with reasonable certainty to be recoverable in future years from known resrvoirs
under existing economic and operating conditions.
Proved Undeveloped Location. A site on which a development well can be drilled consistent with spacing rules
for purposes of recovering proved undeveloped reserves.
Proved Undeveloped Reserves. Reserves that are expected to be recovered from new wells drilled to known
reservoir on undrilled acreage or from existing wells where a relatively major expenditure is required for
recompletion.
Royalty Interest. An interest in an oil and gas property entitling the owner to a share of oil or gas production
free of costs of production.
Tcf One trillion cubic feet.
Tcfe. One trillion cubic feet of gas equivalent.
Undeveloped Acreage. Lease acreage on which wells have not been drilled or completed to a point that would
permit the production of commercial quantities of oil and gas regardless of whether such acreage contains proved
reserves.
Working Interest. The operating interest which gives the owner the right to drill, produce and conduct operating
activities on the property and a share of production.
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