Bogert Natural Gas, Oil Reserves Up 115 Percent for Fiscal Year

By Robinson, Robin | THE JOURNAL RECORD, October 2, 1987 | Go to article overview
Save to active project

Bogert Natural Gas, Oil Reserves Up 115 Percent for Fiscal Year


Robinson, Robin, THE JOURNAL RECORD


An increase of 115.2 percent to $75.1 million in net revenues of oil and natural gas properties was estimated Monday for the fiscal year ended Sept. 30, 1987, by Bogert Oil Co. of Oklahoma City.

That would be up $40.2 million from the $34.9 million in net revenues for the fiscal year ended Sept. 30, 1986, Bogert said.

The increase in net revenues, and accompanying increases in crude oil and natural gas reserves, were attributed by Chairman Richard D. Bogert to exploration and development programs and two major property acquisitions made in March and May.

The acquisitions doubled the number of wells in which Bogert Oil has an interest, he said. Approximately 75 percent of Bogert Oil's reserves are in natural gas, the firm reported.

- Crude oil reserves were reported at 2.6 million barrels as of Sept. 30, up 234 percent from 777,000 barrels at the end of fiscal 1986, the firm said.

The company used a crude oil price of $19 per barrel to estimate fiscal 1987 reserves, up from $15 per barrel to estimate fiscal 1986 reserves, said Mark Monroe, vice president of finance for Bogert Oil.

- Natural gas reserves as of Sept. 30 totaled 51.3 billion cubic feet, up 82 percent from 28.1 billion cubic feet estimated at Sept. 30, 1986, the firm said.

For estimating fiscal 1986 natural gas reserve values, Bogert Oil used a price of $1.50 per thousand cubic feet.

The higher price of the crude oil or natural gas can be translated to a longer life in the well, Monroe said, but it would not add much to the value of those reserves.

The prices have not changed much in the past year, so the values in Bogert Oil's estimates are not greatly affected by the price change.

"We would have been up in reserves even if we had not made any acquisitions," Monroe said.

During fiscal 1987, Bogert Oil drilled 54 economically productive wells, with a 12.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Bogert Natural Gas, Oil Reserves Up 115 Percent for Fiscal Year
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?