2019 Independent Reserves Evaluation
Birchcliff retained two independent qualified reserves evaluators, Deloitte LLP (“Deloitte”) and McDaniel & Associates Consultants Ltd. (“McDaniel”), to evaluate and prepare reports on 100% of Birchcliff’s light crude oil and medium crude oil, conventional natural gas, shale gas and NGLs reserves. Deloitte evaluated all of Birchcliff’s properties other than the Corporation’s assets in Gordondale and Progress, representing approximately 80% of the assigned total proved plus probable reserves, and McDaniel evaluated the reserves attributable to the Corporation’s assets in Gordondale and Progress, representing approximately 20% of the assigned total proved plus probable reserves.
At December 31, 2019, Birchcliff's reserves evaluators estimated that Birchcliff had 1,032 MMboe of proved plus probable reserves and 709.1 MMboe of proved reserves.