By Tyler Losier, Energy Reporter, Oil & Gas 360

Top 116 E&Ps’ resource bases at 10-year high
Last year, the 116 largest public exploration and production companies in the world reported adding more hydrocarbons to their resource base than in any year since at least 2009.

Source: EIA

According to the EIA, collectively, these companies increased their proved reserves by 10.3 billion BOE in 2018, for a total of 286 billion BOE at years end. The E&D cost associated with this build were $319 billion, a 4% increase since the previous year.

When these two statistics are analyzed together, however, it is revealed that the ratio of money spent to oil produced is down 9% since 2017. In fact, the 2018 E&D cost per addi...

Legal Notice