![]() The increase in NPV for the 2P reserves is primarily due to higher commodity prices at Decemand improved development and operational cost stability. The Net Present Value (" NPV") for the net 2P reserves, discounted at 10% before tax, is $3.036 billion at December 31, 2021, compared to $1.888 billion at December 31, 2020.Delivered 3P reserves on a gross working interest basis before royalties of 229.8 MMboe compared to 230.4 MMboe at December 31, 2020. Increased 2P reserves on a gross working interest basis before royalties by 2% to 178.2 MMboe compared to 174.0 MMboe at December 31, 2020.1P F&D cost three-year average was $9.80/boe in 2021 compared to $7.38/boe in 2020. Achieved a three-year average finding and development (" F&D") cost of $8.50/boe on a 2P basis ( $3.38/boe in 2020) with upstream reserves-based capital expenditures of $187 million ( $101 million in 2020), not including changes in future development costs ("FDC").Added 7.8 MMboe of 3P net reserves, for a total of 217.1 MMboe at December 31, 2021, slightly lower compared to 221.8 MMboe at December 31, 2020.Extended 2P reserves life index to 13.3 years compared to 10.3 years at December 31, 2020.Extended 1P reserves life index to 8.7 years compared to 6.4 years at December 31, 2020.Achieved a 1P net Reserves Replacement Ratio of 157% and a net 2P Reserve Replacement Ratio of 105%.The Company's 167 MMboe of net 2P reserves consist of 62% heavy crude oil, 27% light and medium crude oil and 7% conventional natural gas and 4% natural gas liquids. ![]()
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