Continued growth in oil and gas reserves for Noreco
(Thomson Reuters ONE) -
Stavanger, 17 February 2011: Norwegian Energy Company ASA (Noreco) today
publishes its Annual Statement of Reserves. Total proven and probable (2P) oil
and gas reserves at the end of 2010 was 45.8 million barrels of oil equivalents
(mmboe), up from 37.2 mmboe the year before.
The main contributions to the growth in reserves came from the Huntington field
and the South Arne Phase III development, in addition to net positive revisions
for the producing fields.
Added 2P reserves amounted to 12.7 mmboe, while the company's net production for
the year was 4.1 mmboe, corresponding to a reserve replacement ratio above 300
percent.
The complete statement is enclosed in PDF format.
For further information, please contact:
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Annual Reserves Statement 2010:
http://hugin.info/138447/R/1489842/425377.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1489842]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 51598
Anzahl Zeichen: 1680
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Continued growth in oil and gas reserves for Noreco"
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