Woodside Disclosed 266 MMBOE Of Proved Oil And Gas Reserves, Replacing 132% Of Production, And 318 MMBOE Of Proved Plus Probable Reserves In 2023, Replacing 158% Of Production
Portfolio Pulse from Benzinga Newsdesk
Woodside disclosed its 2023 reserves update, revealing 266 MMBOE of proved oil and gas reserves, achieving a 132% replacement of its production. Additionally, it reported 318 MMBOE of proved plus probable reserves, replacing 158% of its production.
February 15, 2024 | 8:48 am
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POSITIVE IMPACT
Woodside disclosed significant increases in its proved and proved plus probable oil and gas reserves in 2023, indicating strong future production capabilities.
The disclosure of a 132% replacement of proved reserves and 158% replacement of proved plus probable reserves by Woodside indicates a strong position in terms of future production capabilities. This is likely to be viewed positively by investors, as it suggests sustainability and growth in production, potentially leading to increased revenues and profitability in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100