BBOEBillions of Barrels of Oil Equivalent
BBOEBottom Bottom Opposite End (Radiator Piping Connection)
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That is based on a 90 per cent chance of recovery and the current state of play which is pegged at 14 bbo of oil and a total 60 bboe of oil and other energy products in the shale.
On the other hand, the 223 bboe is based on a P2 scenario or a 50 per cent chance, which was reckoned by Gustavson Associates.
5 bboe, definitely much lower than Saudi Arabia's 263 bboe reserves.
6 BBoe, a 24 percent increase in 2013 driven by continued strong well performance and increased well density.
With nearly four BBoe gross unrisked resource potential in the exploration inventory, Noble Energy anticipates drilling four or five new prospects in the Deepwater Gulf of Mexico over the next 24 months.
Exploration and New Ventures Noble Energy's strong track record of exploration success has delivered more than 3 BBoe of net resources and created approximately $16 billion of before-tax net present value since 2005.
1 BBoe, a 60 percent increase over last year's estimate.
The Company's largest new venture play is its 35 percent interest in a 10 million gross acre position offshore Falkland Islands that represents a gross unrisked resource potential of 13 BBoe.
In fact, SMT's recent survey of geoscientists indicates that nearly half of those surveyed believe that 5 BBOE or more will be extracted from Deepwater Africa in the coming years," said Ken Gardiner, VP of SMT's EAME Operations.
The Company has built a premier acreage position in the central DJ Basin of over 750,000 net acres and estimates total net unrisked potential of over 1 BBoe (360 MMBoe risked) in the emerging horizontal Niobrara play.
The Company announced that its attractive prospect inventory in the deepwater Gulf of Mexico now includes over 40 prospects and 2 BBoe of net unrisked resource potential (550 MMBoe risked).
12 Bboe and they plan to allow foreign investment in its oil fields.