Estimated ultimate recovery
Estimated Ultimate Recovery (EUR) is like when you play with your toys and try to guess how long you can keep playing with them before they break. But instead of toys, we are talking about oil or gas that is trapped deep inside the earth.
Now, oil and gas are hidden in rocks under the ground. Humans dig big holes in the ground to reach these rocks and pump out the oil and gas. But they can't get all the oil and gas out from the rocks because some of it is stuck, and it's difficult to remove.
So, when they are digging, people have a guess about how much oil or gas is in those rocks. They call this guess the Estimated Ultimate Recovery, which means how much oil and gas they think they can take out from those rocks.
Now, if people dig more and take out more oil or gas, the Estimated Ultimate Recovery can change. Because they can see how much oil and gas they have already taken out, and then estimate how much is still left based on what they know about those rocks.
Therefore, Estimated Ultimate Recovery is like a guessing game of how much oil and gas is hidden in the rocks, and how much of it humans can take out.
Now, oil and gas are hidden in rocks under the ground. Humans dig big holes in the ground to reach these rocks and pump out the oil and gas. But they can't get all the oil and gas out from the rocks because some of it is stuck, and it's difficult to remove.
So, when they are digging, people have a guess about how much oil or gas is in those rocks. They call this guess the Estimated Ultimate Recovery, which means how much oil and gas they think they can take out from those rocks.
Now, if people dig more and take out more oil or gas, the Estimated Ultimate Recovery can change. Because they can see how much oil and gas they have already taken out, and then estimate how much is still left based on what they know about those rocks.
Therefore, Estimated Ultimate Recovery is like a guessing game of how much oil and gas is hidden in the rocks, and how much of it humans can take out.