Abstract
Since the 1970s when it became more difficult to attract capital, oil companies have improved the quality and extent of data made available to potential investors who need not only adequate information on petroleum reserves, values and costs, but also its appearance in a standardized form for comparison purposes.
The availability of such information has made possible a comparison of trends in 30 oil firms based on standardized reserves, production replacement rates and petroleum finding costs. Most reserve increases have arisen from enhanced recovery methods. There has been indifferent success in replacing oil production rates; gas replacement production rates are higher. Over the last 6 years finding costs have averaged $12·87 per barrel of oil equivalent. Companies with lower costs are listed.
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