Finding the Property with the Most Oil

Tier 1 oil and gas property is a term used to describe the highest quality and most valuable mineral properties in terms of reserves, production history, geology, and location. These properties are located in established oil and gas producing areas and have proven reserves that can be extracted economically. They typically have easy access to existing infrastructure and favorable regulatory conditions.
Tier 2 oil and gas properties are considered to be of a lower quality than tier 1, but still have potential for oil and gas production. These properties may have lower proven reserves, less favorable geology, or less established production history.
Tier 3 oil and gas properties are considered to have a lower quality than tier 2 and are typically located in more remote or less developed areas. These properties have a higher risk of lower production, longer lead times, and higher costs to extract the oil or gas.
Fringe properties are located on the outskirts of established oil and gas producing areas and have little or no proven reserves. These properties are considered to be of the lowest quality and are typically more speculative in nature. The risks associated with these properties are usually higher due to the uncertainty of finding oil or gas and the cost of development.
https://seekingalpha.com/article/4396256-occidental-petroleum-hitchhikers-guide-to-tier-i-acreage-and-cash-flow

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