Edition:
United Kingdom

DNO says 2018 reserve replacement ratio was 100 pct


Monday, 11 Feb 2019 

Feb 11 (Reuters) - DNO ASA ::DNO ANNOUNCES 100 PERCENT RESERVES REPLACEMENT IN 2018.YEAREND 2018 COMPANY WORKING INTEREST (CWI) PROVEN (1P) RESERVES STOOD AT 240 MILLION BARRELS OF OIL (MMBBLS), UNCHANGED FROM YEAREND 2017 AFTER ADJUSTING FOR PRODUCTION AND TECHNICAL REVISIONS.ON A CWI PROVEN AND PROBABLE (2P) RESERVES BASIS, DNO REPLACED 98 PERCENT OF ITS 2018 PRODUCTION, EXITING YEAR WITH CWI 2P RESERVES OF 376 MMBBLS (384 MMBBLS IN 2017).AT 2018 PRODUCTION RATES, DNO'S 1P RESERVES LIFE IS 8.2 YEARS AND ITS 2P RESERVES LIFE IS 12.9 YEARS.COMPANY'S 1P RESERVES REPLACEMENT RATIO (RRR) HAS REACHED OR EXCEEDED 100 PERCENT IN EIGHT OF PAST TEN YEARS.