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Article: Carbon Energy Corporation Announces Increase in Net Proved Oil and Natural Gas Reserves in United States and Canada.
- Article from:
- Business Wire
- Article date:
- March 13, 2002
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Business Editors
DENVER--(BUSINESS WIRE)--March 13, 2002
Carbon Energy Corporation (AMEX:CRB) announced that its net proved oil and natural gas reserves after royalties were estimated by independent petroleum engineering firms to be 59 billion cubic feet of natural gas equivalent ("Bcfe" where one barrel of oil is equivalent to six thousand cubic feet of gas).
This is an 8 Bcfe or 16% increase from the net proved reserves of 51 Bcfe reported at year end 2000 (all year-end 2000 net proved reserves are adjusted for a property sale in January 2001). Patrick R. McDonald, Carbon Energy's Chief Executive Officer, said: "Carbon's natural gas and oil ...