New Hope Corporation Limited (AU:NHC) has released an update.
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New Hope Corporation Limited has disclosed the petroleum reserves and contingent resources of its subsidiary, Bridgeport Energy Pty Limited, revealing a total of 4.4 million barrels of oil equivalent in net 2P reserves and 4.9 million barrels in net 2C resources as of July 31, 2024. Bridgeport operates nine oil projects in Queensland and is involved in several non-operated ventures, with all production sold within Queensland. The company uses the Petroleum Resources Management System for reserve determination and sells its oil at a premium to the Brent benchmark.
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