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"At its current rate of production and consumption IMO has 140 years worth of proven oil and gas reserves, without ever drilling another new well, so they have the luxury of focusing on oil sands and natural gas right now."
Oct 11 10:28 am
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All Comments by Spicer »O Canada! (Part III): Black Gold, Natural Gas and Growing Dividends Too [View article]
2008 year-end proved reserves were 2.3 billion boe. The combined oil, NGL and natural gas production during the second quarter of this year was 236 000 boepd. By my calculations IMO's current proved reserve life index 26.7 years, which is little less than 140 years.