Exploration & Production | Quarterly / Earnings Reports
Panhandle Increases Proved Reserves by 22 Percent
Print
|
Panhandle Oil and Gas Inc. announced estimated total proved reserve volumes for the Company's fiscal year ended Sept. 30, 2013.
Total proved reserves increase 22% to 151.8 Bcfe at Sept. 30, 2013 Proved oil reserves grow 53% and NGL reserves grow 105% Proved reserves continue to grow at a compound annual growth rate of 24% since 2006 strategy change Total Proved Reserves Increase 22%Panhandle's estimated total proved reserves at Sept. 30, 2013, increased 22% to 151.8 Bcfe from 124.7 Bcfe reported for Sept. 30, 2012, based on SEC mandated pricing.
Panhandle's total estimated proved reserves are approximately 87% natural gas, 7% oil and 6% NGL. The Sept. 30, 2013 and 2012, proved reserves were calculated by the independent petroleum engineering consulting firm DeGolyer and MacNaughton.
Pan…
Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in