London-based BP plc on Monday said that its estimated oil and gas reserves will not show any material changes when recalculated for submission to the Securities and Exchange Commission (SEC) later this month. However, BP said that the reserves numbers, filed with UK regulators, might differ “somewhat” when they are restated in the SEC filing.
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Despite Higher Reserve Value, Consol Energy Lowers Guidance
With natural gas prices up, Pittsburgh-based Consol Energy Inc. recalculated its future net cash flows of proved coalbed methane gas (CBM) reserves, estimating a current value of $1.09 billion before taxes, and assuming a 10% discount rate, as of Dec.31, 2002. The value is nearly two-and-one-half times 2001’s reserve value of $432 million.
March 17, 2003
Consol Sees Higher Reserve Value as Gas Prices Rise
With natural gas prices up, Consol Energy Inc. recalculated its future net cash flows of proved coalbed methane gas (CBM) reserves, estimating a current value of $1.09 billion before taxes, and assuming a 10% discount rate, as of Dec.31, 2002. The value is nearly two-and-one-half times 2001’s reserve value of $432 million.
March 12, 2003
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