Exploration & Production
ARC Sees Upswing in Montney Reserves to 634 MMBOE
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ARC Resources Ltd. has detailed its 2013 year-end reserves and resources information.
Myron Stadnyk, President and CEO, commented: "I am really pleased with our team's performance again this year. We added significant reserves at a low finding cost through the drill bit and continued to convert our large reserve and resource base into production and cash flow."
Highlights: Replaced approximately 200 per cent of 2013 total production, adding 68.4 mmboe of proved plus probable (2P) reserves. 2P reserves increased four per cent to 634 mmboe, comprised of 2.6 Tcf of natural gas and 194 mmbbls of crude oil and natural gas liquids (NGL's) at year-end 2013. Replaced 180 per cent of 2013 crude oil and NGL's production, adding 25 mmbbls of 2P crude oil and NGL's reserves. ARC's crude oil and…- ✓ Full news archive — U.S., Canada & international coverage
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