Reserves
Freedom Oil & Gas Tags 6.4 MMBOE in 1P Eagle Ford Reserves
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Freedom Oil and Gas reported its year-end 2016 proved reserves associated with its new acreage position in the Eagle Ford shale.
Year End 2016 ReservesFreedom's year end 2016 proved (1P) reserves were 6.4 million barrels of oil equivalent. This total is comprised of 3.3 million barrels of oil and condensate, 1.6 million barrels of natural gas liquids and 9.6 billion cubic feet of natural gas. By energy content, Freedom's proved reserves are weighted 75 percent to crude oil, condensate and natural gas liquids and 25 percent to natural gas. All of these proved reserves are classified as proved undeveloped as drilling has not yet commenced.
The present value of Freedom's reported proved reserves is US$18.96 million, discounted at 10 percent (PV-10). The proved reserves and value are based…
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