Management integrity seen vital to reserves estimates

04/12/2004
In estimating oil and gas reserves, producers need to look beyond the current fevered focus on primarily third-party engineering to "the more important aspects of internal reserves estimation processes which are management integrity, external track records of reserves performance, and public disclosures," said Jim Hackett, president and CEO of Anadarko Petroleum Corp., Houston."There is no cookie-cutter, one-size-fits-all model the industry can use when it comes to measuring a resource that you can't see or touch," Hackett said Mar. 29 at the annual Howard Weil Inc. energy conference in New Orleans.Investors should consider such factors "as the technical tension in a company's int...
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