Canadian Natural Resources Limited Announces 2020 Fourth Quarter and Year End Results finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Storm Resources Ltd.: Storm is Pleased to Announce Its Financial and Operating Results for the Three Months and Year Ended December 31, 2020
0.18
0.15
(2)
(2)(4) surplus
121,689 contracts
25,985
124,927
(1) Excludes gains and losses on risk management contracts.
(2) Certain financial amounts shown above are non-GAAP measurements. See discussion of Non-GAAP Measurements on page 38 of the MD&A. CROCE and ROCE are presented on a 12-month trailing basis.
(3) Excludes the fair value of risk management contracts, decommissioning liability and lease liability.
(4) Includes a non-cash unrealized loss on risk management contracts of $6.5 million for the year ended December 31, 2020 (December 31, 2019 - unrealized gain of $1.5 million).
PRESIDENT S MESSAGE
2020 FOURTH QUARTER HIGHLIGHTS
Kelt Exploration Ltd.: Kelt Provides Results of Its Oil & Gas Reserves Evaluation Effective December 31, 2020 Oil & NGLs [Mbbls] Oil & NGLs [Mbbls] Light Oil, Condensate and Pentane
62%
Notes:
[1] December 31, 2019 amounts are pro-forma, adjusted to exclude amounts relating to the Inga Assets which were sold in 2020.
[2] Refer to advisories regarding Measurements and Abbreviations.
RESERVES
The Company s net present value of proved plus probable reserves at December 31, 2020, discounted at 10% before tax, was $932 million, a decrease of 16% from $1,111 million, pro-forma December 31, 2019. Despite an increase in reserves, the net present value decreased as a result of significantly lower forecasted oil and gas prices for the future years in the December 31, 2020 evaluation (see Commodity Prices table included below). Sproule s forecasted commodity prices for 2021 used to determine the net present value of the Company s reserves at December 31, 2020, are U