Oil Initially In Place - OIIP

Dictionary Says

Definition of 'Oil Initially In Place - OIIP'

The amount of crude first estimated to be in a reservoir. Oil initially in place differs from oil reserves, as OIIP refers to the total amount of oil that is potentially in a reservoir and not the amount of oil that can be recovered. Calculating OIIP requires engineers to determine how porous the rock surrounding the oil is, how high water saturation might be and the net rock volume of the reservoir.
Investopedia Says

Investopedia explains 'Oil Initially In Place - OIIP'

Determining oil initially in place is one of the major components undertaken by analysts determining the economics of oil field development. Oil operations do not typically recover the entire amount of oil that a reservoir may have available, meaning that not all fields will be economical unless oil prices warrant the effort.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Oil Reserves

    An estimate of ...
  2. Proven Reserves

    After an oil ...
  3. Crude Stockpiles

    Reserves of ...
  4. Oil Field

    A tract of land ...
  5. Oil Sands

    Sand and rock ...
  6. Exploration & Production - E&P

    An E&P company ...
  7. Cartel

    An organization ...
  8. New Alternative Transportation to ...

    A bipartisan ...
  9. Natural Gas Equivalent

    The amount of ...
  10. Crude Oil

    A naturally ...

Articles Of Interest

  1. Peak Oil: Problems And Possibilities

    Learn a little more about the "non" part of this nonrenewable resource.
  2. Oil And Gas Industry Primer

    Before jumping into this hot sector, learn how these companies make their money.
  3. Uncovering Oil And Gas Futures

    Find out how to stay on top of data reports that could cause volatility in these markets.
  4. Oil: A Big Investment With Big Tax Breaks

    Oil and gas investments can provide unmatched deduction potential for accredited investors.
  5. 10 Ways To Save Energy And Money

    The average family spends $1,600/year on utility bills - find out how to put some of that back in your wallet.
  6. Clean Or Green Technology Investing

    Innovations in energy and consumption grow as companies adopt them to reduce costs.
  7. 4 Leverage Ratios Used In Evaluating Energy Firms

    These four leverage ratios can help investors understand how oil and gas firms are managing their debt.
  8. 5 Common Trading Multiples Used In Oil And Gas Valuation

    Before you decide to invest in oil and gas, you should understand these multiples.
  9. Why You Can't Influence Gas Prices

    Don't believe the water-cooler talk. Big oil companies aren't to blame for high prices.
  10. Natural Gas Industry: An Investment Guide

    Investors looking into this industry are faced with a confusing amount of information. We explain the important concepts and terms.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center