DGAP-News
Deutsche Rohstoff AG: Deutsche Rohstoff USA subsidiaries increase oil and gas reserves by 84%
Deutsche Rohstoff AG / Key word(s): Miscellaneous
08.06.2016 10:36
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Deutsche Rohstoff: Deutsche Rohstoff USA subsidiaries increase oil and gas
reserves by 84%
Denver/Heidelberg. The US oil and gas subsidiaries of Deutsche Rohstoff,
Cub Creek Energy (CCE) and Elster Oil & Gas (EOG), reported updated reserve
figures today. Overall, the combined companies' reported oil and gas
reserves have grown by 84% since December, 2015. Net Proved reserves have
grown from 4.25 million BOE to 10.07 million BOE, net probable reserves
have grown from 8.04 million BOE to 12.55 million BOE. This reflects a
total expected revenue of USD $324 million from proved and USD $410
million from probable reserves. The independent reserve calculation was
carried out by Ryder Scott (www.ryderscott.com), one of the most respected
reservoir evaluation companies in the US Oil and Gas industry.
Cub Creek Energy Reserve Report: For the net acreage of Cub Creek Energy
(CCE) Ryder Scott calculated Proved Reserves of 7.83 million BOE and
Probable Reserves of 9.33 million BOE. This is a very significant increase
to the reserves published in December 2015, amounting to net Proved
Reserves of 2.12 million BOE1 and net Probable Reserves of 5.08 million
BOE1.
Current promulgated reserve values are based on 30 April 2016 NYMEX Strip
Pricing CCE. Proved and Probable Reserves result in the following value:
Table 1.0 - CCE Reserve Value Based on 30 April 2016 NYMEX Strip Pricing
The reserve report includes 120 potential drilling locations of which 48
are already permitted by Cub Creek.
Elster Oil & Gas Reserve Report: For the total net acreage of Elster Oil &
Gas (EOG), Ryder Scott calculated Proved Reserves of 2.24 million BOE and
Probable Reserves of 3.22 million BOE. Based on 30 April 2016 NYMEX Strip
Pricing EOG Proved and Probable Reserves have the following value:
reserves by 84%
Denver/Heidelberg. The US oil and gas subsidiaries of Deutsche Rohstoff,
Cub Creek Energy (CCE) and Elster Oil & Gas (EOG), reported updated reserve
figures today. Overall, the combined companies' reported oil and gas
reserves have grown by 84% since December, 2015. Net Proved reserves have
grown from 4.25 million BOE to 10.07 million BOE, net probable reserves
have grown from 8.04 million BOE to 12.55 million BOE. This reflects a
total expected revenue of USD $324 million from proved and USD $410
million from probable reserves. The independent reserve calculation was
carried out by Ryder Scott (www.ryderscott.com), one of the most respected
reservoir evaluation companies in the US Oil and Gas industry.
Cub Creek Energy Reserve Report: For the net acreage of Cub Creek Energy
(CCE) Ryder Scott calculated Proved Reserves of 7.83 million BOE and
Probable Reserves of 9.33 million BOE. This is a very significant increase
to the reserves published in December 2015, amounting to net Proved
Reserves of 2.12 million BOE1 and net Probable Reserves of 5.08 million
BOE1.
Current promulgated reserve values are based on 30 April 2016 NYMEX Strip
Pricing CCE. Proved and Probable Reserves result in the following value:
Reserve Revenue Future Net Income FNI Discounted at
Category (USD $ Million) (FNI) Undiscounted 10% - (USD $
Proved 255.49 91.25 34.75
Probable 303.39 109.41 43.22
Table 1.0 - CCE Reserve Value Based on 30 April 2016 NYMEX Strip Pricing
The reserve report includes 120 potential drilling locations of which 48
are already permitted by Cub Creek.
Elster Oil & Gas Reserve Report: For the total net acreage of Elster Oil &
Gas (EOG), Ryder Scott calculated Proved Reserves of 2.24 million BOE and
Probable Reserves of 3.22 million BOE. Based on 30 April 2016 NYMEX Strip
Pricing EOG Proved and Probable Reserves have the following value:
Reserve Revenue Future Net Income FNI Discounted at
Category (USD $ Million) (FNI) Undiscounted 10% - (USD $
Proved 69.15 35.78 19.76
Probable 106.74 45.52 18.91
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte