OIL RESERVES
- Main Page
- Our Business
- Oil Reserves
Oil Reserves
NorthAxis currently manages 412 million barrels of proved reserves (SEC standards) with industry-leading recovery rates of 58% through advanced reservoir management techniques. Our certified petroleum engineers maximize asset value throughout the lifecycle.
Reserve Enhancement Methods:
- Dynamic reservoir simulation
- Waterflood optimization
- CO₂ miscible flooding
- Horizontal well spacing analysis
- Pressure maintenance programs
- Reserve audit compliance
- Economic limit calculations
- Asset divestment analysis
We've increased recoverable reserves by an average of 19% across mature fields through our proprietary NX-RECOVER™ program. Northaxis maintains PRMS-compliant reporting and provides quarterly reserve updates to partners.
"Our 2023 reserve replacement ratio of 147% demonstrates Northaxis's ability to sustainably grow resources."
The estimated total 3P reserves increased by more over 1 billion boe in 2019. (150,000,000 toes) Due to effective prospecting, exploration and development drilling, and cutting-edge techniques for oil recovery enhancement, the total production replenishment was achieved in 2019. (This also comprises deposits of difficult-to-recovery reserves.) The majority of reserve additions occurred in the NorthAxis fields and the East United States fields, which were constructed as a result of the Company’s operations.