Another Mediocre Reserve Replacement Year For Energy Cos

Not all the numbers are in yet, but 2005 is turning out to be another unimpressive year for oil companies seeking to replace oil and gas reserves.

Oil giants BP Plc (BP), Royal Dutch Shell Plc. (RDSB.LN) and Total Plc. (TOT) have all fallen short of replacing 100% of their reserves. Several other leading companies, including Amerada Hess Corp. (AHC), Chevron Corp. (CVX) and Marathon Oil Co. (MRO), cleared this critical benchmark, but only through acquisitions.
Schlumberger