Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Max Petroleum increases reserves after recent drilling

Max Petroleum increases reserves after recent drilling

Max Petroleum (LON:MXP) revealed an increase in the group’s oil and gas reserves.

The inventory has been updated to incorporate the latest drilling results, forward oil pricing and other technical information. Four additional wells have been drilled since the last reserves statement, which was in March.

Proved and probable (2P) reserves, as of September 30, are now stated as 9.9mln barrels oil equivalent, up 4% from 9.5mln barrels in the March assessment.

Proved, probable and possible (3P) reserves rose 4% to 10.8mln barrels, from 10.4mln barrels in March.

View full MXP profile View Profile

Max Petroleum Timeline

Related Articles

oil and gas operations
May 01 2018
It was a year of portfolio building and progress for the onshore UK-focused minor, punctuated by improved production volumes and a number of acquisitions with value-adding potential
Checking oil samples in front of tanks at Ungani project
May 07 2018
Cash on hand should gain momentum as production increases towards the target rate of 3,000 bopd.
oil and gas operations
April 09 2018
A 'high priority' exploration area is being advanced offshore Ireland, production growth is still on the cards onshore UK, and the company recently said it was looking at potential new opportunities.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use