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Crown Point Announces Reserve Information for the Year Ended December 31, 2025
Globenewswire· 2026-03-11 22:33
Core Viewpoint - Crown Point Energy Inc. reported its reserve information for the year ended December 31, 2025, highlighting significant increases in both proved and probable reserves compared to the previous year, primarily due to recent acquisitions and production activities [1][9]. Summary of Reserves - As of December 31, 2025, the total proved reserves amounted to 37,551 MBOE (million barrels of oil equivalent), with net proved reserves at 31,849 MBOE. This includes developed producing, developed non-producing, and undeveloped categories [4][9]. - The total probable reserves were reported at 34,029 MBOE, with net probable reserves at 28,909 MBOE, leading to total proved plus probable reserves of 71,580 MBOE [4][9]. Net Present Value of Future Net Revenue - The estimated before-tax net present value (NPV) of the Company's 2P reserves (discounted at 10%) was $420.8 million, an increase from $358.9 million in 2024. This increase is attributed to recent acquisitions, despite a decrease in forecast international oil pricing [10][11]. - Approximately 30% of the before-tax NPV of 2P reserves is categorized as "proved developed producing," while the total proved reserves represent about 53% of the total NPV of future net revenues [11]. Pricing and Inflation Rate Assumptions - The pricing assumptions for crude oil and natural gas for 2026 include Brent crude oil at $63.92 per barrel and natural gas at $3.39 per Mcf, with a projected inflation rate of 0% for 2026 [13][14]. - Forecast prices for subsequent years show a gradual increase in crude oil prices, reaching $85.70 per barrel by 2035, while natural gas prices are expected to rise to $4.08 per Mcf by 2035 [13][14]. Company Overview - Crown Point Energy Inc. is an international oil and gas exploration and development company based in Buenos Aires, Argentina, focusing on four producing basins in the country [18].