Published: February 13, 2006
Rosetta Resources Inc. Announces Proven SEC Reserve Estimates of 379 BCFE With a PV(10) of $1.4 billion
Rosetta Resources Inc. (NASDAQ: ROSE) today
announced the completion of a recent reserve evaluation by Netherland,
Sewell and Associates, Inc. (NSAI) of Rosetta's oil and gas properties. The
report prepared by NSAI included estimates of future net reserves and
revenue attributable to certain leasehold interests owned by Rosetta as of
December 31, 2005. NSAI indicated that their estimates were prepared
utilizing constant product pricing and costs in conformance with SEC
guidelines. The results of NSAI's report are summarized as follows:
Net Reserves Future Net Revenue (M$)
------------ ----------------------
Oil Gas Present Worth
CATEGORY (MBBBL) (MMCF) Total at 10%
------------ ------------ ------------ ------------
Proved
Developed 1,336.4 237,806.0 $1,657,458.2 $ 925,091.3
Proved
Undeveloped 1,166.5 125,751.5 $ 819,533.6 $ 473,952.0
------------ ------------ ------------ ------------
Total Proved 2,502.9 363,557.5 $2,476,991.8 $1,399,043.3
In commenting on the estimates prepared by NSAI, B.A. Berilgen, Chairman
and Chief Executive Officer of Rosetta said, "The impressive organic
reserve growth achieved by Rosetta since its inception on July 7, 2005 has
been generated through successful exploratory and development drilling.
During our first 6 months of operations, we replaced 127% of production
while drilling 29 wells with an overall success rate of 82%. Rosetta plans
to drill an additional 188 wells during 2006 and has identified a total of
560 additional drilling opportunities on its existing acreage."
Rosetta Resources Inc. is an independent oil and gas company engaged in the
acquisition, exploration, development and production of oil and gas
properties in North America. Our operations are concentrated in the
Sacramento Basin of California, South Texas, the Gulf of Mexico and the
Rocky Mountains. Rosetta is a Delaware Corporation based in Houston, Texas.
Forward-Looking Statements:
All statements, other than statements of historical fact, included in this
release are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based upon
current expectations and are subject to a number of risks, uncertainties
and assumptions that could cause actual results to differ materially from
those described in the forward-looking statements. Rosetta assumes no
obligation and expressly disclaims any duty to update the information
contained herein except as required by law.
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