Questar Announces Updated Estimates of Reserves for Subsidiaries.
International Resource News-8 July 2008-Questar Announces Updated Estimates of Reserves for Subsidiaries(C)2008 ENPublishing - http://www.enpublishing.co.uk
International Resource News - 08 July 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Questar Corp (NYSE:STR), a US-based company that develops, produces, gathers, processes, transports, stores and distributes natural gas, has announced revised estimates of net probable and possible reserves and petroleum resource potential for affiliates Questar Exploration and Production Company (Questar E&P) and Wexpro Company (Wexpro).
Questar E&P estimated proved reserves as of March 31, 2008 has increased by 16% to 2.16 trillion cubic feet of natural gas equivalent (Tcfe) from 1.87 Tcfe at the year end of 2007. Questar E&P estimated net probable reserves has increased by 68% to 4.20 Tcfe, compared to the prior estimate of 2.50 Tcfe disclosed in July 2006; while estimated net possible reserves has increased by 46% to 5.14 Tcfe, compared to the prior estimate of 3.51 Tcfe disclosed in July 2006. Wexpro estimated net probable reserves are 1.09 Tcfe, and estimated net possible reserves are 0.17 Tcfe as of March 31, 2008. Wexpro estimated proved reserves at the year end of 2007 totalled 0.64 Tcfe.
The company chief operations officer, Charles B Stanley, said, 'The significant increase in reported estimates of non-proved reserves is a result of our ongoing efforts to evaluate the full potential of our significant leaseholds in the Rocky Mountain and Midcontinent regions. New play concepts on older leases, combined with recent acquisitions in some of the hottest resource plays in North America, are driving the dramatic growth in our inventory.'
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|Publication:||International Resource News (IRN)|
|Date:||Jul 8, 2008|
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