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CALGARY, Alberta, Feb. 22, 2024 -- Prairie Provident Resources Inc. is pleased to announce the results of its December 31, 2023 independent reserves evaluation conducted by Sproule Associates...
Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2022 year-end reserves
) costs of $4.78/boe, including technical revisions. During 2020, the downturn in commodity prices necessitated suspension of capital development so there were no material reserves added from drilling. Year-end 2020 estimated net present values of future net revenue before tax discounted at 10% (“NPV 10 BT”) for PDP, 1P and 2P reserves totaled $54.7 million, $107.4 million and $218.0 million, respectively. Approximately 100% of PPR’s total estimated abandonment and reclamation obligations (ARO) is included in the 2020 reserves evaluation (2019 – approximately 79%). Reserve life inde...