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.

Articles Of Interest

  1. Uncovering Oil And Gas Futures

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

    Oil and gas investments can provide unmatched deduction potential for accredited investors.
  3. Peak Oil: Problems And Possibilities

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

    Before jumping into this hot sector, learn how these companies make their money.
  5. Should You Trust Your Instincts On Gold?

    The trouble with gold is that even as stocks are going up and the gold price is hurting, investors and central banks are loading up on gold and silver like never before. There’s a disconnect ...
  6. Petrobras Will Grow, But Will It Be Profitable Growth?

    Petrobras is looking at tremendous production growth, but also huge capital outlays.
  7. Seadrill Still In Motion, But Delivering Better Utilization And Dividends

    Still an aggressively-run company, Seadrill offers highly leveraged exposure to the growing offshore drilling market.
  8. Playing The Big Winners In U.S. LNG

    For U.S. producers of natural gas, exporting that bounty is seen a necessary way to profit from higher demand overseas as well as higher prices. The potential of those exports received a major ...
  9. Investors Already Thinking Recovery For Cummins

    Cummins is still bottoming, but the Street is already thinking recovery
  10. BP Looks Cheap, But A Lot Of Improvements Have To Come Through

    Even with its problems and challenges, BP seems too cheap today
comments powered by Disqus
Marketplace
Hot Definitions
  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...
  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...
  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.
  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.
  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.
  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center