Sentence examples for reserve replacement from inspiring English sources

BP also said its reserve replacement ratio — the amount of the company's reserves consumed that were replaced with new supplies — was 129 percent in 2009, the 17th consecutive year in which it reached at least 100 percent.

The reserve replacement ratio was just 61% in 2015, which suggests that BP is shrinking.

Exxon Mobil's overall reserve replacement, for example, has averaged 114% over the past decade.

Fossil-fuel firms live and die by a measure called the reserve replacement ratio, which must remain above 100%.

But reserve replacement is a problem bedevilling all the majors, even those yet to say so publicly.

Strip out such additions, according to Sanford Bernstein, and last year's average reserve replacement falls to a meagre 87%: overall, reserves are shrinking.

Reserve replacements represent the ratio of reserves found over production for a given period.

"Bottomline was that both reserves replacement and production growth were inflated," he wrote in September 2002.

There is still timing uncertainty on planed farm outs as management also realistically pointed out majors will require more clarity as to the base oil price before firming up capital programmes but, as we stated, large exploration prospects are necessary for long term reserves replacement for the majors and Chariot offers an abundance of these.

Analysts typically say a company's reserves replacement should average more than 100.0% over a three- to five-year period to indicate growth.

Neil McMahon, an analyst at Sanford Bernstein, calculates that such companies had an average reserve-replacement ratio of 129% over the past five years meaning that they found 29% more oil and gas than they pumped.