Reserves actually matter. Impairment is a bogeyman."Proved developed producing reserves increased by 49 per cent, from 124 MMboe (million barrels of oil equivalent) to 185 MMboe. Proved reserves increased by 55 per cent, from 264 MMboe, to 410 MMboe. Proved plus probable reserves increased by 51 per cent, from 438 MMboe to 663 MMboe.
At year-end 2023, the present value of the company's 2P reserves, discounted at 10 per cent before tax, is estimated to be $7.8-billion ($5.9-billion at year-end 2022)."