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Assume the following information in Diamondback Energy's supplemental disclosures for its 2018 annual report. Estimated Quantities of Net Proved Oil and Natural Gas 2018
Assume the following information in Diamondback Energy's supplemental disclosures for its 2018 annual report. Estimated Quantities of Net Proved Oil and Natural Gas 2018 Gas BCF Beginning of year Revisions of previous estimates Purchases of reserves in place Sales of reserves in place Extensions and discoveries Production End of year Oil MMBO 288 15 380 0 176 -42 817 285 3.6 641 -1 154 -35 1,049 BOE MMBOE 336 16 487 0 202 -48 992 Calculate the following reserve ratios for the year on a BOE basis, showing your formulas: a) Reserve replacement ratio including revisions. b) Reserve replacement ratio including revisions and purchases of reserves.
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