Examples of Tcfe in a sentence
We have also estimated that these locations would translate to 700 net locations to Ultra and that resource potential range of 19 Tcfe to 48 Tcfe, and the potential of each well having an NPV10 value of nearly $13 million each.
The gross resource potential of 48 Tcfe for flank horizontals is incremental to the 39 Ts of resource already assigned to the core of Pinedale.
Given that QEP has publicly stated in the past that they only had around 200 remaining drilling locations as compared to our nearly 5,000 locations and because of our higher margins by at least $0.40 per Mcfe due to mostly better midstream contracts, it is difficult to make a direct comparison of our assets.* * * Applying that value to our PDP reserves of 2.6 Tcfe gives us a total PDP value of $3.1 billion.
For example, defendant Johnson noted that the Company had been unable to include the Company’s PUD reserves in the annual report because of the bankruptcy, but claimed that the massive PUD reserve valuation provided to lenders (as stated in the February 28, 2017 Form 8-K detailed above) provided a more complete picture of the true value of the Company’s untapped oil and gas assets, stating in pertinent part:Last quarter, we reported our year-end 2016 reserves of 2.5 Tcfe.
This sensitivity that we call adjusted proved reserves uses the following assumptions: a forward-looking commodity strip, a 5-year development schedule and the same inventory of opportunities that we would often referred to as technical PUDs. This particular sensitivity showed adjusted proved reserves of 5.8 Tcfe of reserves for 2.3x the amount reported at year-end 2016.
During 2020, the Company reported 1.4 Tcfe of positive performance revisions related to increased well performance and lower operating costs, 741 Bcfe of reserve additions, and also acquired 2.4 Tcfe of reserves related to the acquisition of Montage Resources.
As of December 31, 2014, Ultra Petroleum had an estimated 5.4 Tcfe of proved reserves and in 2014, converted 364.2 Bcfe of proved undeveloped reserves to proved developed reserves.
A Tcfe conversion ratio of one barrel of oil to six thousand cubic feet of gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.CONVERSIONThis table outlines certain standard conversions between Standard Imperial Units and the International System of Units (metric units).
As of December 31, 2016, we had remaining MVCs totaling 3.1 Tcfe.
Proved developed reserves were 11.7 Tcfe, or 62% of total proved reserves.