BlueNord: 2023 Annual Statement of Reserves and Resources with 135% Replacement Ratio

OSLO, Norway, March 18, 2024 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") has today published its 2023 Annual Statement of Reserves and Resources. As of 31 December 2023, the Company's net 2P (Proven and Probable) Reserves were 185.6 mmboe. This classification includes the producing Dan, Halfdan and Gorm hubs, the Tyra II redevelopment project and several other infill wells and development projects.

The Company's 2P Reserves Replacement Ratio was 135%, with a total of 12.3mmboe added, mainly from the maturation of projects, more than offsetting the 2023 production of 9.1 mmboe.

"I am pleased to announce that during 2023, BlueNord's 2P Reserves have increased due to the successful maturation of the Adda development from Contingent Resources to Justified for Development. The 135% Reserves Replacement achieved in 2023 is an indication of the quality and the richness of the DUC opportunity inventory. With the brand-new Tyra facilities now processing gas, the maturation of projects that will utilise these new state of the art processing facilities is key, and the 2023 result shows that we are on track", said Marianne Eide, Chief Operating Officer.

The Reserves Report is attached and will be made available on the Company's website www.bluenord.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact:
Cathrine Torgersen, Chief Corporate Affairs Officer
Email: [email protected] 
Phone: +47 915 28 501

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https://news.cision.com/bluenord-asa/r/bluenord--2023-annual-statement-of-reserves-and-resources-with-135--replacement-ratio,c3947086

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