2015 Independent Reserves Evaluation
Deloitte, our independent qualified reserves evaluator, prepared the 2015 Reserves Evaluation, the 2014 Reserves Evaluation and a reserves estimation and economic evaluation effective December 31, 2013. Reserves data contained herein as at December 31, 2015, 2014 and 2013 are extracted from the relevant evaluation. The 2015 Reserves Evaluation and the prior reserves evaluations were prepared in accordance with the standards contained in the COGE Handbook and NI 51-101 that were in effect at the relevant time.
At December 31, 2015, Deloitte estimated that Birchcliff had 572.9 MMboe of proved plus probable reserves and 351.2 MMboe of proved reserves. Birchcliff’s proved plus probable reserves are comprised of 85% shale gas, 4% conventional natural gas, 6% light crude oil and medium crude oil (combined) and 5% NGL.