Otto increase reserves by 31%

GULF of Mexico oil producer Otto Energy has bumped up its 1P reserves by 31% compared to last year to 4.8 million net barrels of oil equivalent across its offshore and onshore fields, citing lower price assumptions.

Otto increase reserves by 31% Otto increase reserves by 31% Otto increase reserves by 31% Otto increase reserves by 31% Otto increase reserves by 31%

GC-21 and Lightning fields lead the way in annual statement

Proven 1P reserves as of June 30 consist of 2.3Mbbl and 14,623 million cubic of feet of gas, equating to 4.8Mboe; however its total prospective resource (best estimate, unrisked) fell by 29.