The changes in proved reserves from 2011 proved reserves include revisions of approximately 1.3 Tcfe based on lower SEC prices, changes in well performance, operating cost, future development plans, and other factors, as well as a reclassification of some of our undeveloped locations from proved reserves as they were not developed within five years of first recognition. The company has been directing a large portion of its capital budget to the Horn River Basin and new ventures in the U.S., and therefore, fewer Barnett Shale PUDs are expected to be drilled within the SEC's prescribed five-year timeframe.Reserves by product are 76% natural gas, 23% NGL, and 1% crude oil and condensate. Geographically, 82% of reserves were located in the U.S., primarily in the Barnett Shale, and 18% in Canada.
Quicksilver Resources Reports Preliminary 2012 Fourth-Quarter And Full-Year Results
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