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Oil Gas
MBBL1 MMCF2
Gross reserves 2264.159 51521.452
Net reserves 404.925 10136.649
1 MBBL is the abbreviation for 1,000 barrels of crude oil
or liquid petroleum products.
2 MMCF is the abbreviation for 1 million cf of gas.
At the standard conversion ratio of 6,000 cf of gas to 1 barrel
of oil, these reserves translate into 2.1 million BOE
(rounded).20 The 1986 LAM updated reserve report indicated that
several of the wells evaluated in the report had a "relatively
short or no production history and therefore production
extrapolations are subject to a higher degree of inaccuracy."
LAM made available to petitioner, for inspection and review,
the data underlying both the 1986 LAM reserve report and the 1986
LAM updated reserve report. Much of the data underlying LAM's
1986 reserve reports is no longer available.
As part of petitioner's investigation into Tri-Power,
Messrs. Billings and Wagner traveled to Houston on at least two
occasions to interview Tri-Power's personnel and evaluate the
20 The barrel of oil equivalent (BOE), on the basis of the
reserves reflected in the 1986 LAM updated reserve report, is
computed as follows:
Oil BBL 404,925.0
Gas BOE
10,136,649,000 cf
6000 cf = 1,689,441.5
Total BOE 2,094,366.5
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