Exploration & Production | Capital Markets | Private Equity Activity
Seven Generations Nearly Doubles Reserves in 2013
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Seven Generations Energy Ltd. has announced that it has commissioned McDaniel and Associates Ltd. to conduct a review of the Company’s reserves effective October 31, 2013.
McDaniel identified 840.1 Bscf and 144.4 MMBbls (condensate & NGL) in the Total Proved plus Probable category with a combined total, pre-tax, net present value, discounted at 10 percent, of approximately $2.9 billion.
These volumes are up from 522.7 Bscf gas and 94.5 MMBbls (condensate & NGL) in the same reserves category with a corresponding value of approximately $1.9 billion effective March 31, 2013.
In the Total Proved category McDaniel identified 331.7 Bscf and 52.5 MMBbls (condensate & NGL) with a combined NPV, discounted at 10 percent, of approximately $870 million.
These volumes are up from 155.5 Bscf gas and…
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