Early Reports : Year End 2011 Proved Reserves

Analysts gearing for the Annual Scorecard

Benchmark Pricing for SEC Year-End Reserve Reporting

(Courtesy of Ryder Scott Co. LP.)

PLS presents the table above to provide a framework as you digest the incoming year-end reserve reports. We note, for SEC reporting purposes, natural gas prices were only down 6% YOY -- a factor to keep in mind as the results stream in, particularly in light of the early 2012 downtrend of gas prices. The annual reserve reporting provides both an "official scorecard" of corporate performance as well as insight into macro supply and cost  issues for future oil and gas production.  

PLS' docFinder database helps you capture and analyze these results.

Shown above are slides from Marathon Oil and  Bill Barrett Corp.  For Marathon, all-in reserve replacement ratios scores an impressive 212%.  Organically (excluding acquisitions), the number is 137% with liquids and synthetic crude driving the numbers higher.  Of note is the 77% organic reserve replacement rate on natural gas.  On a volume basis, Marathon's reserves grew 9.9% YOY to 1.8 billion boe and its PD % grew from 75% to 78%.  For Bill Barrett Corp., all-in reserve replacement ratios scores also an impressive 331%. Organically, the number is 239%.  On a volume basis, Bill Barrett's reserves grew 22% YOY to 1.365 Tcfe and its PD % grew from 48% to 51%.  On a SEC PV 10 basis, proved reserve value grew from $1.5 billion to $2.1 billion.

Below, are additional presentations of early reserve reports from Vanguard, Magnum Hunter, McMoRan Oil & Gas, and Rex Energy.

Did you know?

Oil company execs, investors and bankers know full well the value of "competitive reconnaissance." PLS' new docFinder database is a valuable source to stay current on industry and company developments. DocFinder collects, archives and uniquely catalogues industry presentations and provides clients with great features for searching, finding, collaborating and communicating a wealth of data.

Start your free trial to docFinder today!