(Energy Analytics Institute, Aaron Simonsky, 14.May.2018) – Colombia’s natural gas reserve life ratio rose 13.6% year-over-year.
Colombia’s Mines Ministry said the South American country had boosted its natural gas reserve life ratio to 11.7 times or 11.7 years in 2017 due to rising reserves and reduced consumption. The details, provided in an official Twitter post, show the increase was up 13.6% compared to 10.3 years in 2016 and 10.5 years in 2015.
A company’s reserve life ratio is a factor of its reserves at year-end divided by that year’s production. It’s normally measured as a ratio or more commonly in years (i.e. 11.7x or 11.7 years), and is often expressed just as R/P.
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