At current usage rates we will exhaust the proved reserves in a few decades.
It had 8.3 billion barrels of oil equivalent of proved reserves as of December 31, 2010.
The air trick has added 22 million barrels of proved reserves in two areas of Cedar Creek.
Remember that Royal Dutch Shell also believed passionately five years ago that it had 16 billion barrels of proved reserves.
The assets it bought from Exxon Mobil have more than 68 million barrels of oil equivalents in proved reserves.
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It influences his ability to raise cash and find investors going forward if he has proved reserves on his balance sheet.
Denbury noted 84% of the proved reserves there consist of oil and natural gas liquids and 26% proved developed producing.
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For all Scaroni's efforts, proved reserves at Eni have fallen 11% since 2004 to the equivalent of 6.4 billion barrels of oil.
In January 2004 it confessed to the problem, eventually slicing 4.5 billion barrels of oil-and-gas equivalents off proved reserves, which now stand at 11.5 billion barrels.
Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world.
Accordingly, probable reserves is when deliverability has been demonstrated, and proved reserves is when production wells have started or been completed and deliverability has been demonstrated.
In its earnings release Chesapeake downplays the reserve impairments, preferring to talk up the 5 trillion cubic feet of new proved reserves that it added this year.
It's approaching ExxonMobil's total proved reserves of 28 billion bbl.
As the largest prospective offshore acquisition by a Chinese company, emphasis has understandably been placed on the 900 million barrels CNOOC will add to its 3.3bn proved reserves.
On Jan. 23, the company announced that it expects to boost its year-end 2006 proved reserves by 10% to more than 8.4 trillion cubic feet of natural gas equivalent.
In North America, Apache focuses its operations in the Gulf of Mexico, the Gulf Coast, and the Permian region, where assets contributed 48% of production 70% of estimated proved reserves.
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In addition to its massive proved reserves, it has an estimated 260 billion barrels of heavy crude--roughly equal to Saudi reserves--in its Orinoco Belt stretching across the center of the nation.
Anadarko is among the largest independent oil and gas exploration and production companies in the world, with 2.4 billion barrels of oil equivalent of proved reserves as of December 31, 2010.
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To put this into perspective, Chesapeake as a whole holds around 2.6 billion boe in total proven reserves, implying that the firm would be giving up just under 3% of its proved reserves.
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In addition to its massive proved reserves, it has an estimated 260 billion barrels of heavy crude--roughly equal to the Saudi reserves--in the Orinoco Belt that stretches across the center of the nation.
In September 2012, its subsidiary, Unit Petroleum Company, acquired certain oil and natural gas assets from Noble Energy (NBL), increasing its proved reserves 38% from year-end 2011, and sold certain of its Bakken properties.
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Since 1999 Encore has boosted production by an average 24% and its proved reserves by 20% at a time when the rest of the industry has been flat to slightly down in both key categories in the U.S., according to research firm John S. Herold.
In its press release today Marathon said that it expects net production from the acquisition to be 12, 000 bpd by the end of the year, that it expects to book 100 million boe of proved reserves, and that ultimate recovery could be more than 500 million boe.
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In an exclusive interview with Forbes, CFO Almir Barbassa sought to dispel those fears, noting they expect total proved reserves to hit 30 million barrels soon, as they work on improving refining capacity to feed a Brazilian market in which demand has grown at about 10% per year.
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They doubled the field's output and increased proved recoverable reserves to 20 million barrels.
This is oil on an outlandish scale--if true this would effectively double America's current total proved oil reserves.
Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for 57 years.
With 78 billion barrels of proved oil reserves (to the U.S.' 22 billion) and uncounted trillions of cubic feet of natural gas, Venezuela has the largest hydrocarbon deposits in the Western Hemisphere.
With 78 billion barrels of proved oil reserves (the U.S. has 22 billion) and many trillions of cubic feet of natural gas, Venezuela has the largest hydrocarbon deposits in the Western Hemisphere.
The lands hold proved natural gas reserves of 3.4 trillion cubic feet and total reserve potential of 35 trillion cubic feet.
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