Reserves

As per 30 November 2017, the proved oil reserves amounted to 11,269 thousand barrels of oil (MBO) and the proved natural gas reserves amounted to 58,173 million cubic feet (MMCF). The total reserves amounted to 20,964 thousand barrels of oil equivalent (MBOE). CoreTerra was acquired in 2018, with proved oil reserves amounting to 3,134 MBO and the proved natural gas amounting to 4,970 MMCF. After the acquisition, the total reserves amounted 24,926 (MBOE).

CategoryOilGasTotalPV10*
Total, Proved reserves14,40363,14324,926179,268
(MBL)(MMCF)(MBOE)(TUSD)
Proved developed produced1,2816,5812,37825,818
Proved developed nonproducing2,17117,6395,11041,527
Proved undeveloped7,81733,95313,47683,664
CoreTerra, acquired in 2018**3,3144,9703,96228,259

The estimate of reserves (excl. CoreTerra, acquired in 2018) has been conducted by independent petroleum consultants DeGolyer and MacNaughton and were prepared in compliance with the United States Securities and Exchange Commission (SEC) regulations.

* Future prices were estimated using guidelines established by the SEC and FASB based on the 12 month average NYMEX oil price and gas price.

** Matra management estimate, assuming WTI February 2 strip, starting with 2018 (USD/bbl) 63.1, 58.5, 55.2, 53.3, 52.3, 52.1, 52.4, 52.8, 53.1 in 2026 and thereafter.