Dominion Power 2002 Annual Report Download - page 18
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4.9
6.1
Proved Gas and Oil Reserves
Trillion Cubic Feet
Equivalent (Tcfe)
2001 2002
0.0
7.0
3.5
16 Dominion ’02 Annual Report
Offshore project manager
Steve Richardson briefs
Desiree Delacruz in the hall-
way at Dominion’s offices in
New Orleans. Our Gulf of
Mexico shelf and deepwater
programs are important
contributors to our gas and
oil operations.
Last year, Dominion E&P’s proved reserves topped 6 trillion cubic
feet equivalent, an increase from the previous year of nearly 25 percent.
Our strong drilling program hit ambitious production targets. And we achieved
a 350 percent reserve replacement ratio for the year. In fact, in mid-2002, the
respected industry magazine, Oil & Gas Journal, published a survey of the
nation’s top corporate drilling programs. The survey ranked Dominion E&P as
America’s top operator. Rankings change, but I’m optimistic that our momentum
will keep us at or near the top.
Another cause for optimism is the scheduled production in
2004 from our Devils Tower and Front Runner discoveries in the deepwater Gulf
of Mexico.