Q: Hi Peter and Team,
For Tamarack Valley Energy, how much years of oil inventory that is proven and probable. I believe I hear Eric Nuttall said that the company has 30 years of oil inventory.
Also, the news mention 2000 identified locations in the Clearwater and 20 years of drilling. How much inventory in can add up to their current oil inventory and years for the company.
In advantage, thank you for taking the time to research and answering my questions.
Norwood
For Tamarack Valley Energy, how much years of oil inventory that is proven and probable. I believe I hear Eric Nuttall said that the company has 30 years of oil inventory.
Also, the news mention 2000 identified locations in the Clearwater and 20 years of drilling. How much inventory in can add up to their current oil inventory and years for the company.
In advantage, thank you for taking the time to research and answering my questions.
Norwood
5i Research Answer:
Proven plus probably reserves are close to 300M barrels. But production is in the 24M barrel range. So more than 10 years but not near 30. Inventory is different than P+ P in that it assumes reserves. P+P is more assured. Total wells will be about 105 in 2025, so the 20 years makes sense. But note investors do not really give companies that much credit for drilling far in the future.