Sproule Associates Limited completed their evaluation of Lightstream’s reserves, effective December 31, 2015. Please view Lightstream’s 2015 Year-End Reserves Update News Release dated February 11, 2016.
More information about our reserves will be available in our Annual Information Form.
|As at December 31, 2015||Company Gross||Royalty|
|Proved Developed Producing||32,724||5,360||89,298||55,967||165||56,132|
|Proved + Probable (2P)||97,240||12,657||193,572||142,159||262||142,421|
|Net Present Value - Before Tax ($ millions)(1)(2)|
|Proved Developed Producing||$1,557||$1,257||$1,042|
|Proved + Probable (2P)||$4,193||$2,946||$2,184|
(1) Company working interest reserves value plus royalties received less royalties and burdens
(2) Estimated values of future net revenue disclosed in this press release do not represent fair market values
(3) Based on the Sproule price forecast effective December 31, 2015
Sproule employed the following pricing and exchange rate assumptions as of December 31, 2015 in the Sproule Report in estimating reserves data using forecast prices and costs. Inflation was assumed at 1.5% per year.
|Year||WTI Cushing Oklahoma ($US/bbl)||Canadian Light Sweet 40° API ($Cdn/bbl)||Cromer LSB 35° API ($Cdn/bbl)||Natural Gas(1) AECO Gas Price ($/MMBtu)||Pentanes Pus FOB Field Gate ($Cdn/bbl)||Butanes FOB Field Gate ($Cdn/bbl)||Edmonton Propane ($Cdn/bbl)||Exchange Rate(2) ($US/$Cdn)|
|Escalated at 1.5% per year thereafter.|
(1) This summary table identifies benchmark reference pricing schedules that might apply to a reporting issuer.
(2) Exchange rates used to generate the benchmark reference prices in this table.