Exploration & Production | Operational Updates
Artek Touts Reserve Increase; Updates Ops
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Artek Exploration Ltd. of Calgary, Alberta is pleased to provide an operational update and announce the results of its independent reserve evaluation for the year ended December 31, 2012 as prepared by Sproule Associates Limited.
2012 HIGHLIGHTS
Increased Proved plus Probable reserves year over year by 30% to 29.6 million boe from 22.9 million boe or 34% after the sale of 0.7 million boe at Leduc Woodbend in January 2012, and Proved reserves increased by 33% to 17.1 million boe from 12.9 million boe. Increased Proved plus Probable Oil and NGLs reserves by 47% to 7.3 million boe from 5.0 million boe even after disposing of 0.7 million boe during the year. Oil and condensate comprise 65% of the oil and NGLs proved and probable reserves. Achieved all in finding, development and…- ✓ Full news archive — U.S., Canada & international coverage
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