Current RZE:CA Stock Info

Razor Energy Corp. (ticker: RZE) released a new reserves report today.

Total reserve values, on a proved developed producing basis discounted at 10% before tax, were $178.3 million, which represents an increase of 112% over year-end 2016. Total PDP reserve volumes were 11,910 MBOE (90% oil and liquids), which represents an increase of 55% over year-end 2016.

Total proved (1P) reserves were 15,072 MBOE and total proved plus probable (2P) reserves were 20,326 MBOE, which represent increases of 49% and 62%, respectively, over year-end 2016.

The company’s reserve life index is 6.8 years for PDP, 8.6 years for 1P and 11.6 years for 2P reserves, based-on December 2017 average field-estimated production of 4,782 BOEPD.

Razor’s reserve replacement was 360% of PDP, 420% of 1P and 660% of 2P.

Net asset value

Net asset value, including estimated January 31, 2018 cash and working capital was:

  • $9.60/share on a PDP basis discounted at 10%, before tax
  • $15.10/share on a 2P basis discounted at 10%, before tax
  NPV10 (M$) $/share(2)
Proved    
Developed Producing 178,344 11.31
Developed Non-Producing 29,412 1.87
Undeveloped 9,160 0.58
Total Proved 216,916 13.76
Probable 48,133 3.05
Total Proved plus Probable 265,049 16.81
Net Debt(1,3) (26,953 ) (1.71 )
Net Asset Value 238,096 15.10

Reserves summary

Razor provided a summary of gross oil and gas reserves as of December 31, 2017:

Light and Medium
Crude Oil
Conventional
Natural Gas
Natural Gas Liquids Barrels of Oil
Equivalent
Gross Gross Gross Gross
(Mbbl) (MMcf) (Mbbl) (Mboe)
Proved
Developed Producing 8,141 7,412 2,533 11,910
Developed Non-Producing 1,628 1,555 728 2,615
Undeveloped 419 376 66 547
Total Proved 10,188 9,343 3,327 15,072
Probable 3,836 2,656 976 5,255
Total Proved plus Probable 14,024 12,000 4,303 20,326

 

Razor Energy presents at EnerCom Dallas Feb. 21, 2018

Razor Energy will be presenting at the EnerCom Dallas investment conference, Feb. 21-22 at the Tower Club in downtown Dallas. Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now.


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