Exploration & Production | Industry News
Sonde Tags 9,432 MBOE of Reserves at Year-End 2012
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Sonde Resources Corp. has received, and the Board of Directors has adopted, its initial 2012 year-end reserves report containing a summary of proved plus probable reserves and before-tax present values and cash flows.
Sonde's working interest proved plus probable (2P) reserves were 9,432 Mboe at December 31, 2012, compared to 9,507 Mboe for the previous year. Sales for 2012 totaled 871 Mboe, compared to 2011 sales of 1,021 Mboe. The decrease in production year over year can be attributed almost entirely to lower 2012 natural gas production associated with Sonde's decision to shut-in sub-economic gas wells in first quarter 2012.
The Company's 2012 2P report included a 46% increase in oil reserves, from 1,983 Mbbl of working interest oil at year-end 2011 to 2,893 Mbbl at year-end 2012. This…
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