Monday, February 21, 2011

Implied reserves value recovered in 2010, stronger for oil than for gas

On a worldwide basis, the implied reserves values, $/2P reserves (entitlement), recovered largely by the end of 2009 and stayed at similar levels throughout 2010, but still below the high levels of 2007-2008.

Implied reserves by country and by hydrocarbon type is readily available for US and Canada whereas the rest of the world gives limited data sets for statistical analysis.

For the US, implied proved oil reserves values appear robust with 2010 full year average $15.6/boe for proved reserves, whereas gas reserves values are still below 2007 and 2008 levels albeit up from 2009 levels.

For Canada, the separation of implied reserves values for gas and oil widened further in 2010, following the last years’ trend. For the full year, the average price of oil deals was $16.5/boe for 2P reserves and of gas reserves was $9.4/boe.

Transaction metrics for selected deals outside North America

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