Reserves
Oxy Tags 2.4 Billion BOE in Proved Reserves; Up from 2.2 BBOE YOY
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Oxy reported that at year-end 2016, the company's preliminary worldwide proved reserves totaled 2.4 billion barrels of oil equivalent (BOE) compared to 2.2 billion BOE at the end of 2015. In 2016, the company had proved reserve additions from all sources of 437 million BOE, compared to production of 231 million BOE, for a reserves replacement ratio of nearly 190 percent.
Preliminary domestic proved reserves totaled 1.4 billion BOE compared to 1.3 billion BOE at the end of 2015. In 2016, Occidental’s domestic operations had proved reserves additions from all sources of 192 million BOE, compared to production of 110 million BOE, for a reserves replacement ratio of 175 percent.
As of December 31, 2016, the company's proved reserves consisted of 56 percent oil, 17 percent NGL and 27 percent…
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