90. Oil & Gas Masterclass: How to Evaluate Energy Investments - Part 2
Invest Like a Billionaire
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The SEC's Definition of Geologic Risk
The SEC or the SPE, Society of Petroleum Engineers, comes up with some terms that try and give investors a sense of how to understand risk. When you're talking about reserves, they put a term proved in front of. That's wells that are already producing. And then there's proved undeveloped - which basically means it's kind of the way to think about it as geography. The minerals are well- defined. I mean, the basins are well-defined. And we will know what their characteristics, they know where they are.
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