Unrisked definition

Unrisked or "unrisked" means applicable reported volumes or values of resources have not been risked (or adjusted) based on the chance of commerciality of such resources. In accordance with the COGE Handbook for contingent resources, the chance of commerciality is solely based on the chance of development based on all contingencies required for the re-classification of the contingent resources as reserves being resolved. Therefore, unrisked reported volumes and values of contingent resources do not reflect the risking (or adjustment) of such volumes or values based on the chance of development of such resources.
View Source
Unrisked means applicable reported volumes or values of resources have not been risked (or adjusted) based on the chance of commerciality of such resources. In accordance with the COGE Handbook for contingent resources, the chance of commerciality is solely based on the chance of development based on all contingencies required for
View Source
Unrisked means that Ryder Scott did not incorporate geologic risk (play risk) in the hydrocarbon volume estimates. The resource plays evaluated in the Ryder Scott report are high risk. No commer- cial hydrocarbons have been discovered on the four exploration permits. There is no certainty that any portion of the undiscovered resources will be discovered. If discovered, the play may not be economically viable or technically feasible to produce the resources.
View Source

Examples of Unrisked in a sentence

  • Unrisked potential recoverable oil resources from this single prospect range from 46 to 295 million barrels of oil (MMBO).

  • The project has a Mean Unrisked Recoverable OIIP of 26.6 Mmstb and the Cross Roads-1 well was declared an Oil Discovery in June 2014.

  • Upon Schlumberger's designation of the percentage ------------------- of its Services it will provide as Risked Services, Red Oak shall have the exclusive right to provide funding, as described in the Engagement Letter for any Unrisked Services described in Article 4.1 required on any Bundle.

  • Any Unrisked Services provided by Schlumberger ------------------ shall not be governed by this Agreement, but instead shall be governed by the Master Service Agreement.

  • Any Unrisked Services provided by a Service Party shall be governed by, and paid for in accordance with, the applicable Master Service Agreement.

  • Before commencement of the first Project Well in each Bundle, the Executive Committee shall, by unanimous consent, approve one or more AFEs setting forth the estimated cost of the Services to be provided by each of the Service Parties and indicating the percentage of such Services which are to be Risked Services and which are to be Unrisked Services.

  • Payment for all Unrisked Services -------------------------------- provided by Schlumberger on each Bundle shall be due and payable according to the terms of the Master Service Agreement.

  • If IOGW elects to complete such well then all Deferred Payments (determined by the Service Parties' Percentages on the date of their election not to complete) attributable to such well shall be paid to IOGW until IOGW has received an amount equal to the value of the Unrisked Services provided to IOGW on such well after Schlumberger elects not to complete such well times the applicable multiplier for such Bundle as set out in Section 5.2.1.


More Definitions of Unrisked

Unrisked means that the applicable volumes or revenues have not been adjusted for the probability of loss or failure in accordance with the COGE Handbook.
View Source