Range's Reserves Up 19%

摘要

US exploration and production firm Range Resources announced a 19% rise in its proved reserves for 2008.The Fort Worth-based company recorded 2.65 Tcfe of natural gas reserves at the end of last year, up from 2007 year-end reserves of 2.23 Tcfe.The double-digit bump came despite declines of 25% and 54% in year-end natural gas and crude prices, respectively. Currently, US oil and gas companies calculate their proved reserves by determining which volumes are economic to produce at Dec. 31 prices.