Estimated Ultimate Recovery (EUR)

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Definition of 'Estimated Ultimate Recovery (EUR)'

Estimated Ultimate Recovery (EUR) is a term used in the oil and gas industry to estimate the total amount of oil or gas that can be recovered from a given reservoir. EUR is calculated by taking into account the size of the reservoir, the type of oil or gas present, the reservoir's geology, and the production history.

EUR is an important factor in evaluating the potential profitability of an oil or gas project. A high EUR indicates that there is a greater chance of recovering a significant amount of oil or gas from the reservoir, which can lead to higher profits. However, it is important to note that EUR is only an estimate and that the actual amount of oil or gas that can be recovered may be lower than the estimated amount.

There are a number of factors that can affect EUR, including:

* The size of the reservoir: A larger reservoir will typically have a higher EUR than a smaller reservoir.
* The type of oil or gas present: Light oil and gas are easier to recover than heavy oil and gas.
* The reservoir's geology: The geology of the reservoir can affect the permeability of the rock, which can impact the rate at which oil or gas can be produced.
* The production history: The production history of the reservoir can provide information about the amount of oil or gas that has already been produced and the rate at which it is being produced.

EUR is a complex and important concept in the oil and gas industry. It is important to understand the factors that can affect EUR in order to make informed decisions about oil and gas projects.

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