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Double Eagle Petroleum Co. (NASDAQ:DBLE) announces proved oil and gas reserves totaled more than 115 Bcfe, a 25% increase over 2009 year-end proved reserves.
Double Eagle Petroleum Co. (NASDAQ:DBLE) announces proved oil and gas reserves totaled more than 115 Bcfe, a 25% increase over 2009 year-end proved reserves.
The press release is quoted as saying:
The 22.8 Bcfe net increase is a result of a 32.0 Bcfe increase in the Company’s proved reserves offset by the 2010 production of approximately 9.2 Bcfe. This represents a reserve replacement ratio of approximately 350%.
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