Question 11Ephrayim Energy LimitedEstimated Quantities of Net Proved Crude Oil and Natural Gas Liquids in Thousands of Barrels.Year Ended 31 Dec201920202021Beginning of year proved reservedRevisions of previous estimateImproved recoveryPurchase of reserve in place32003400370060130221210132115501510233237Sales of reserve in placeExtensions and discoveries537365Production350480655End of year proved reserves265427292828What is the reserves life ratio for the year 2019?

The reserve life ratio is a calculation that determines how long a natural resource's location will…

Ephrayim Energy Limited Estimated Quantities of Net Proved Crude Oil and Natural Gas Liquids in Thousands of Barrels. Year Ended 31 Dec 2019 2020 2021 Beginning of year proved reserved Revisions of previous estimate Improved recovery 3200 3400 3700 60 130 221 210 132 115 10 Purchase of reserve in place Sales of reserve in place Extensions and discoveries 50 15 23 32 37 53 73 65 Production 350 480 655 End of year proved reserves 2654 2729 2828 What is the reserves life ratio for the year 2019?

Ephrayim Energy Limited Estimated Quantities of Net Proved Crude Oil and Natural Gas Liquids in Thousands of Barrels. Year Ended 31 Dec 2019 2020 2021 Beginning of year proved reserved Revisions of previous estimate Improved recovery 3200 3400 3700 60 130 221 210 132 115 10 Purchase of reserve in place Sales of reserve in place Extensions and discoveries 50 15 23 32 37 53 73 65 Production 350 480 655 End of year proved reserves 2654 2729 2828 What is the reserves life ratio for the year 2019?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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