Reserves | Capital Markets | Private Equity Activity
Midstates Sees 141% Jump in Reserves YOY; 177 MMBOE
Midstates Petroleum detailed its year-end reserves.
Proved Reserves
Midstates' estimated proved reserves for year-end 2016 totaled 177.0 MMBOE, up 141% from 73.5 MMBoe at year-end 2015.
The Company's year-end 2016 reserves consisted of 69.6 MMBoe of proved developed reserves and 107.4 MMBoe of proved undeveloped reserves. Total proved reserves were comprised of 35% oil, 21% NGLs, and 44% natural gas. Geographically, 96% are in the Mississippian (which includes the Mississippian Lime and Hunton properties in Oklahoma) and 4% are in the Anadarko Basin in Oklahoma and Texas.
At year-end 2016, Midstates' proved reserves, as prepared utilizing SEC pricing, had a net present value discounted at 10% (PV10) of $578.2 million. The Company's estimated reserves at year-end 2016 were based on the average oil, NGL, and natural gas prices for each month, which were $42.75 per barrel (Bbl), $15.31 per Bbl, and $2.48 per million BTUs, compared to $50.28 per Bbl, $17.44 per Bbl, and $2.59 per million BTUs, respectively, for 2015.
Utilizing February 6, 2017 strip pricing, the Company's year-end 2016 proved reserves had a PV10 of approximately $1.1 billion.
Related Categories :
Reserves
More Reserves News
-
W&T Offshore Fourth Quarter, Full Year 2022 Results; 2023 Guidance
-
Sitio Royalties Fourth Quarter, Full Year 2022 Results; IDs 2023 Guidance
-
Coterra Energy Q4, Full Year 2022 Results; 2023 Plans
-
Civitas Resources Q4, Full Year 2022 Results; 2023 Capital Plans
-
Coterra Energy Third Quarter 2022 Results
Mid-Continent News >>>
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -
-
A Look at Capital Spending By Company In First Half 2023; Budget Exhausion?
-
Large Permian E&P Cuts Capex;Outlines New D&C Plans, 2024
-
Oil Report : Play Oil For a Bounce Here