Santos lifts 2P reserve estimates by 42 pct
SYDNEY |
SYDNEY Feb 8 (Reuters) - Santos Ltd (STO.AX), an Australian oil and gas producer, lifted its proved and probable (2P) reserves estimate by 42 percent, taking its total reserves to 1.44 billion barrels of oil equivalent at the end of 2009, the company said on Monday.
Santos also lifted its proved and probable estimate for coal seam gas by 60 percent to 3,748 petajoules.
2P reserves are defined by the industry as having a 50 percent chance of recovery. (Reporting by Denny Thomas; Editing by Balazs Koranyi)
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