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  • topic:: 00 Reservoir Engineering
  • updated:: 2022-06-22
  • reviewed:: 2022-06-22
  • #LiteratureNote

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• McKelvey’s Box is a simple device/diagram for visualizing categories of oil and mineral reserves and resources that shows level of uncertainty and risk

  • The original McKelvey box (with SPE-AAPG-WPC terminology) shows basic terminology with simple uncertainty grouping
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  • The updated/modern (updated by a joint working group of the SPE, AAPG and WPC), reorganized and subdivided by probabilistic uncertainties (i.e. 1P, 2P, 3P)
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• It was developed to avoid ambiguity in communication (in reporting of natural resources) and contains the following basic idea

  • only discovered, commercially-viable deposits get to be called Reserves.
  • Discovered but sub-commercial (with today's technology and pricing) are contingent resources.
  • Potentially producible and viable deposits that we've not yet found are called prospective resources. These are important distinctions, especially if you are a public company or a government.

References

• McKelvey's reserves and resources — Agile (agilescientific.com)
• McKelvey box - SubSurfWiki