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

October 26 2018
"The nature of the Hot Creek Valley geology is posing challenges."
oil and gas operations
November 12 2018
The second well at Verbier has the potential to significantly upgrade the size and commercial potential of the presently undeveloped oil field
oil and gas operations
July 24 2018
Prospect S offshore Namibia is Chariot's next shot at a big target, drilling is slated for the fourth quarter this year and it will be closely watched by investors

© 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