President announced a significant upgrade to its Argentinian reserve base, with net 2P reserves rising 7% to 25.9mmboe (from 25.0mmboe), after factoring in (estimated) FY19 production of 0.8mmboe. Net 2C resources are assessed at 43.0mmboe (up from 30.5mmboe in 2018). This reserve upgrade implies a reserve replacement ratio of 112% - an impressive performance given that President undertook no drilling activity last year. The driver for the reserve growth derives from uplifts associated with 2
27 Jan 2020
Argentina Reserves upgraded
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Argentina Reserves upgraded
President announced a significant upgrade to its Argentinian reserve base, with net 2P reserves rising 7% to 25.9mmboe (from 25.0mmboe), after factoring in (estimated) FY19 production of 0.8mmboe. Net 2C resources are assessed at 43.0mmboe (up from 30.5mmboe in 2018). This reserve upgrade implies a reserve replacement ratio of 112% - an impressive performance given that President undertook no drilling activity last year. The driver for the reserve growth derives from uplifts associated with 2