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USGS Releases Global Oil & Gas Reserve Growth Estimates
The U.S. Geological Survey has released a new global estimate for potential additions to oil and gas reserves due to reserve growth in discovered fields outside the United States. The USGS estimates that the mean undiscovered, conventional reserve additions in the world total 665 billion barrels of oil (bbo), 1,429 trillion cubic feet (tcf) of natural gas, and 16 billion barrels of natural gas liquids.

date.png19 Jun 2012 07:45 | comments.png 0 Comments | tags.png reserves upstream usgs [ More ]

USGS Releases First Shale-Oil and Shale-Gas Resource Potential Assessment for the Alaska North Slope
For the first time, the U.S. Geological Survey has estimated the potential of undiscovered, technically recoverable onshore shale oil and gas resources in Alaska’s North Slope. The estimates range from 0 up to 2 billion barrels of oil and from 0 up to 80 trillion cubic feet of gas – representing technically recoverable oil and gas resources, which are those quantities of oil and gas producible using currently available technology and industry practices, regardless of economic or accessibility considerations.

date.png27 Feb 2012 07:35 | comments.png 0 Comments | tags.png alaska reserves shale upstream usa usgs [ More ]

PetroMagdalena announces 86% increase in 2P reserves at Cubiro
PetroMagdalena Energy Corp. (TSXV: PMD) announced today that it has received an independent reserves evaluation report dated September 30, 2011 (the "Petrotech Report") prepared by Petrotech Engineering Ltd. of Burnaby, British Columbia, relating to the current reserve base in Cubiro, the Company's oil and gas exploration and production property located in the Llanos Basin of Colombia. The combined proved plus probable ("2P") reserves for this block (gross to the Company) increased by 5.0 million barrels of oil ("MMbbls"), or 86%, compared to those reported in December 2010. The Company's gross (before royalties) 2P reserves at Cubiro at September 30, 2011 amount to 10.8 MMbbls, having a total net present value ("NPV") (10% discount, before tax) of US$263 million, an increase of US$126 million since December 2010. The Report also reflects a 73% increase in gross proven reserves ("1P") to a total of 3.0 MMbbls.

date.png27 Oct 2011 06:24 | comments.png 0 Comments | tags.png colombia petromagdalena reserves [ More ]

USGS Releases New Assessment of Gas Resources in the Marcellus Shale, Appalachian Basin
The Marcellus Shale contains about 84 trillion cubic feet of undiscovered, technically recoverable natural gas and 3.4 billion barrels of undiscovered, technically recoverable natural gas liquids according to a new assessment by the U. S. Geological Survey (USGS).

date.png24 Aug 2011 05:43 | comments.png 0 Comments | tags.png gas marcellus reserves shale usa usgs [ More ]

IEA makes 60 million barrels of oil available to market to offset Libyan disruption
International Energy Agency (IEA) Executive Director Nobuo Tanaka announced today that the 28 IEA member countries have agreed to release 60 million barrels of oil in the coming month in response to the ongoing disruption of oil supplies from Libya. This supply disruption has been underway for some time and its effect has become more pronounced as it has continued. The normal seasonal increase in refiner demand expected for this summer will exacerbate the shortfall further. Greater tightness in the oil market threatens to undermine the fragile global economic recovery.

date.png24 Jun 2011 06:36 | comments.png 0 Comments | tags.png iea reserves [ More ]

The resource accounts for the Norwegian continental shelf as of 31 December 2010
The Norwegian Petroleum Directorate's (NPD's) resource accounts, with updated figures as of 31 December 2010, is an overview of the recoverable petroleum resources on the Norwegian continental shelf.

date.png04 Mar 2011 13:56 | comments.png 0 Comments | tags.png norway reserves [ More ]

Petrominerales Proved Plus Probable Reserves Additions Replace 153% Of 2010 Production
Petrominerales Ltd. (“Petrominerales” or the “Company”) is pleased to report proved plus probable reserves of over 60 million barrels of oil as at December 31, 2010 (as determined by our independent reserves evaluators DeGolyer and MacNaughton (“D&M”)), replacing 2010 production by 153%.

date.png28 Feb 2011 10:05 | comments.png 0 Comments | tags.png petrominerales reserves [ More ]

Rosneft fully replaced its oil reserves in 2010
Rosneft announced today the results of the annual independent audit of its hydrocarbon reserves performed by DeGolyer & MacNaughton.

date.png18 Feb 2011 06:13 | comments.png 0 Comments | tags.png reserves rosneft upstream [ More ]

Santos increases 2P reserves to 1,445 million barrels
Santos today announced that proved and probable (2P) hydrocarbon reserves increased to 1,445 million barrels of oil equivalent (mmboe) as at the end of 2010. This represents a 2P reserves replacement ratio of 110% and is the company’s seventh successive annual increase in its reserves.

date.png17 Feb 2011 10:15 | comments.png 0 Comments | tags.png reserves santos upstream [ More ]

Brazil - Proven oil reserves grew 10.8% in 2010 compared to 2009, and natural gas 15.4%
The proven oil reserves in Brazil grew 10.8% from 2009 to 2010, the highest percentage recorded since 2002, when there was an increase of 15.4% over the previous year. Total reserves, which include proven, the probable and possible, jumped 34.7% over the same period, the largest growth since 2000. The Brazilian reserves for 2010 are available on the NPA in the area of Oil and Derivatives> Development and Production.

date.png17 Feb 2011 06:18 | comments.png 0 Comments | tags.png brazil reserves [ More ]
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