Similarly, the combined acquisitions will increase Diversified's total proved developed producing reserves
by nearly 220% to 173m Boe.
Zargons 2017 year end proved developed producing reserves
decreased two percent to 6.
2 million barrels of oil equivalent in 2017, D&M certified reserves are: Net proven developed producing reserves
increased 47% to 28.
Loans made under the facility are secured by Mesa Energy's proved producing reserves
(PDP) as well as guarantees provided by the parent and its wholly-owned subsidiaries.
0 million Barrels of Oil Equivalent of proven plus probable producing reserves
and the property produces 1,450 Boe per day of mainly light oil, include 57,000 gross acres (45,000 net acres) of which 32,097 gross acres, (24,971 net) are undeveloped and extensive infrastructure.
Substantially all of the value is attributable to proved developed producing reserves
PGP will acquire producing reserves
or other long-term gas supplies and create discounts and economies of scale for everyone in the group, and in turn, their customers.
Additionally, the proposed acquisitions will increase Diversified's total proved developed producing reserves
by nearly 220% to 173m Boe from 55m Boe, and further establish Diversified as a capable consolidator of large packages of mature producing wells, positioning the company for additional growth in the region.
4 BCFE of Proved Developed Producing Reserves
The assets included in the deal had estimated average production of around 850 barrels of oil-equivalent per day (BOE/d) for the last quarter, and estimated confirmed developed producing reserves
of 2 million barrels of oil-equivalent (MMBOE, 43% oil) as of end of last year.
We only paid for producing reserves
but believe that each of the 67 well bores offers the opportunity to exploit additional Austin Chalk zones.
Currently, Seneca's efforts are focused on evaluating, exploring and developing reserves in the Appalachian basin, economically producing reserves
in California and exploiting opportunities in the shallow waters of the Gulf of Mexico.