Reserves
Arsenal Boosts Proved Developed Reserves 124% in 2015
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Arsenal Energy Inc. reported the highlights of its year end reserves report and to provide a corporate update. Arsenal's proved plus probable finding development and acquisition costs for 2015 were $12.22 per boe and based, on the current production rate, Arsenal has a reserve life of approximately 13.3 years on a proved plus probable basis.
ReservesIn preparing the Company's reserves, Deloitte LLP has evaluated Arsenal's reserves as at December 31, 2015 in accordance with National Instrument 51-101. For light oil, Deloitte is using a price forecast of US $42.00 WTI, US $47.50 WTI and US $55.00 WTI for 2016, 2017 and 2018 respectively and for AECO natural gas, Deloitte is using Cdn. $2.45 per mcf, Cdn. $2.80 per mcf and Cdn. 3.00 per mcf in 2016, 2017 and 2018, respectively…
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