Maurel & Prom :Group reserves at 31/12/2016
(Thomson Reuters ONE) -
Paris, 8 March 2017
No. 07-17
Group reserves at 31/12/2016
Group reserves at 31 December 2016
The Group's reserves correspond to the volumes of recoverable hydrocarbons
currently in production plus those revealed by discovery and delineation wells
that can be operated commercially. These reserves at 31 December 2016 were
evaluated by DeGolyer and MacNaughton in Gabon and by RPS Energy in Tanzania.
P1+P2 Reserves net of royalties[1] Oil (MMbbl) Gas (Bcf) MMboe
Gabon Tanzania
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01/01/2016 159.5 272.5 204.9
production -7.4 -7.6
revision +5.6 +7.4
31/12/2016 157.7 272.3 203.1
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of which P1 reserves net of royalties 125.1 165.6 152.7
or 79% 61% 75%
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Maurel & Prom's share of P1+P2 (2P) reserves net of royalties at 31 December
2016 was 203 MMboe.
In Gabon, 2P reserves net of royalties at 31 December 2016 amounted to 157.7
MMbbl, slightly down after taking into account 2016 production net of royalties
of 7.4 MMbbl, partially offset by a 5.6 MMbbl upward revision of that figure. In
2016, investments in production assets in Gabon focused on work aimed at
improving the effectiveness of water injection. The Group intends to continue
this strategy in 2017. The resulting stronger total flow from injection and the
installation of more powerful activation pumps at certain producing wells
require the installed electrical power capacity to be increased.
At 31 December 2016, the Group also had gas reserves of 272.3 Bcf, which is
equivalent to 45.4 MMboe. Its share of proven P1 reserves rose from 49% to 61%
of 2P reserves due to better pressurisation at the field, in production since
August 2015. These gas assets give the Group access to fixed, stable revenues
over the long term. The sale price is US$3.07 per thousand cubic feet and rises
with inflation. Maurel & Prom thus has additional cash flow unaffected by oil
price fluctuations.
Next publication:
3 April 2017: 2016 annual results, released before markets open
English
French
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pieds cubes pc cf cubic feet
pieds cubes par jour pc/j cfpd cubic feet per day
milliers de pieds cubes kpc Mcf 1,000 cubic feet
millions de pieds cubes Mpc MMcf 1,000 Mcf = million cubic feet
milliards de pieds cubes Gpc Bcf billion cubic feet
-------------------------------------------------------------------------------
baril bbl bbl barrel
barils d'huile par jour b/j bopd barrels of oil per day
milliers de barils kb Mbbl 1,000 barrels
millions de barils Mb MMbbl 1,000 Mbbl = million barrels
-------------------------------------------------------------------------------
barils équivalent pétrole bep boe barrels of oil equivalent
barils équivalent pétrole par bep/j boepd barrels of oil equivalent per
jour day
milliers de barils équivalent kbep Mboe 1,000 barrels of oil equivalent
pétrole
millions de barils équivalent Mbep MMboe 1,000 Mbbl = million barrels of
pétrole oil equivalent
For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00
Press, shareholder, and investor relations
Tel: +33 (0)1 53 83 16 45
ir(at)maureletprom.fr
This document may contain forward-looking statements regarding the financial
position, results, business and industrial strategy of Maurel & Prom. By nature,
forward-looking statements contain risks and uncertainties to the extent that
they are based on events or circumstances that may or may not happen in the
future. These projections are based on assumptions we believe to be reasonable,
but which may prove to be incorrect and which depend on a number of risk
factors, such as fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual rates of oil
production and the related costs, operational problems, political stability,
legislative or regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris
CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share -
CAC PME - EnterNext(©) PEA-PME 150
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
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[1] Royalties payable under the Production Sharing Agreement are paid by TPDC
(Tanzanian Petroleum Development Corporation) in accordance with the agreements
set up.
RES_MAU_08MAR17_ENG.pdf:
http://hugin.info/155421/R/2086346/787180.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel & Prom via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 08.03.2017 - 18:13 Uhr
Sprache: Deutsch
News-ID 529052
Anzahl Zeichen: 7120
contact information:
Town:
Paris
Kategorie:
Business News
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