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Marquee Energy reports significant increase in reserves


Published Feb 6, 2015
Marquee Energy Ltd.

Marquee Energy Ltd. announce the results of its independent reserve evaluation as of December 31, 2014, which includes a 39% increase in proved developed producing reserves. The Company's core assets at Michichi and Lloydminster now comprise more than 90% of its total proved reserves on a 10% discounted before tax net present value basis (NPV10).

Reserve Report Highlights •Increased proved developed producing reserves by 39% to 8.9 mmboe (41% oil and NGLs), proved reserves by 12% to 12.8 mmboe (51% oil and NGLs), and proved plus probable reserves by 16% to 20.0 mmboe (55% oil and NGLs). •Increased the NPV10 of its PDP reserves value by 34% to $129.9 million, 1P reserves value by 26% to $173.6 million and 2P reserves value by 23% to $257.9 million. •Net of acquisitions, dispositions and production, 1P reserves increased by 3.7 mmboe and 2P reserves increased by 6.0 mmboe, due to successful drilling programs at Michichi and Llyodminster. •Marquee's 2014 Capital program added 1P reserves at a cost of $21.90 per boe and 2P reserves at a cost of $19.70 per boe including future development capital. •Finding, development and acquisition costs, including the increase in FDC are $14.76 per boe on a 1P basis, and $14.12 per boe on a 2P basis. •The 1P and 2P reserves additions, net of acquisitions and dispositions replaced 2014 production by 2.1X and 3.4X, respectively.

Tags: Marquee Energy Ltd.




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