From company results published to date, KeyFacts Energy provide the following operational update.

APA Corporation

Production: Reported full-year production was 405,000 BOE per day; adjusted production was 331,000 BOE per day. Fourth-quarter production was 414,000 BOE per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 341,000 BOE per day. 
Reserves: Worldwide estimated proved reserves totaled 807 million BOE at year-end 2023, 91% of which were classified as proved developed.

Baytex Energy

Production: For the full-year 2023 production averaged 122,154 boe/d (85% oil and NGL), compared to 83,519 boe/d in 2022 (84% oil and NGL). Production in Q4/2023 averaged 160,373 boe/d (83% oil and NGL), exceeding guidance of 158,000 to 160,000 boe/d, and up 6% from Q3/2023 on exploration and development expenditures of $199 million, 10% below guidance. 
Reserves: Proved developed producing ("PDP") reserves increased by 49%, from 124 MMboe to 185 MMboe. Proved reserves ("1P") increased by 55%, from 264 MMboe to 410 MMboe. Proved plus probable reserves ("2P") increased by 51%, from 438 MMboe to 663 MMboe. Reserves on a 1P basis are comprised of 82% oil and NGLs (46% light oil, 23% NGLs, 12% heavy oil and 1% bitumen) and 18% natural gas. 

bp

Production: Reported production for 2023 full year was 1,383mboe/d, 6.7% higher than the same period of 2022. Underlying production for the full year was 6.3% higher compared with the same period of 2022 reflecting bpx energy performance and major projects and base performance. production for the fourth quarter of 2023 was 1,421mboe/d, 8.6% higher than the fourth quarter of 2022.

California Resources

Production: Average annual net production in 2023 was 86 thousand barrels of oil equivalent per day (MBoe/d). Oil production averaged 52 thousand barrels of oil per day (MBo/d).
Reserves: As of December 31, 2023, CRC’s proved reserves totaled an estimated 377 million Boe (MMBoe), of which 68% was oil and 331 MMBoe was proved developed.

Devon Energy

Production: In the fourth quarter of 2023, production averaged 662,000 oil-equivalent barrels (Boe) per day, , with oil averaging 317,000 barrels per day. 
Reserves: Devon exited the year with estimated proved reserves of 1.8 billion Boe. Proved undeveloped reserves accounted for 22 percent of the total. Extensions and discoveries from the company’s drilling program added 322 million Boe of reserves in 2023, equating to a replacement rate of 134 percent of production. 

Eni

Production: In Q4 2023 hydrocarbon production averaged 1.71 mln boe/d (1.66 mln boe/d in the FY ’23), up 6% compared to Q4 ’22 (up 3% vs. the FY 2022). Production was supported by the ramp-up in Mozambique, start-up of the Baleine project in Côte d'Ivoire, higher activity in Algeria, which also benefited from the business acquisitions, in Kazakhstan due to unplanned events occurred in the same period ’22, as well as in Libya and Indonesia. These increases were offset by lower production due to mature fields decline. 
Reserves: Net proved reserves at December 31, 2022 stood at 6.6 billion boe. In 2023, net additions of proved reserves were 0.4 bln boe relating to discoveries, extensions and revisions of previous estimates. These additions drove an all-sources reserve replacement ratio of 67%. The reserves life index was 10.6 years as of December 31, 2023.

EnQuest 

Production: Group production averaged 43,812 Boepd (guidance 42,000 Boepd to 46,000 Boepd), reflecting high levels of uptime and maintenance schedule optimisation. Guidance for 2024 is 41,000 Boepd to 45,000 Boepd.

ExxonMobil

Production: Net production in the fourth quarter of 2023 was 3.8 million oil-equivalent barrels per day, an increase of 136,000 oil-equivalent barrels per day compared to the prior quarter on favorable entitlement effects and growth in Permian and Guyana. Payara, the third Guyana development, started up in November ahead of schedule with production reaching nameplate capacity of 220,000 barrels per day in mid-January.

Genel Energy

Production: 2023 net production was 12,410 bopd (30,150 bopd in 2022), following the closure of the Iraq-Türkiye pipeline (‘ITP’) in March, with minimal sales between April and August inclusive and the subsequent development of domestic sales.

Gulfport Energy

Production: Net daily production for the full year of 2023 averaged 1,054.3 MMcfe per day, primarily consisting of 783.8 MMcfe per day in the Utica and Marcellus and 270.4 MMcfe per day in the SCOOP. For the full year of 2023, Gulfport’s net daily production mix was comprised of approximately 91% natural gas, 7% natural gas liquids ("NGL") and 2% oil and condensate.
Reserves: Gulfport reported year end 2023 total proved reserves of 4.2 Tcfe, consisting of 3.7 Tcf of natural gas, 18.6 MMBbls of oil and 62.8 MMBbls of natural gas liquids. Gulfport’s year end 2023 total proved reserves increased approximately 4% when compared to its 2022 total proved reserves.

Harbour Energy

Production: 2023 production was 186 kboepd (2022: 208 kboepd), split 52% natural gas/48% liquids and within guidance.
Reserves: Total 2P reserves and 2C resources increased to 880 mmboe (2022: 865 mmboe) reflecting reserve additions at the company's operated UK hubs and international exploration success, partially offset by production 

i3 Energy

Production: i3 Energy announced record 3023 annual production of 20,711 barrels oil equivalent per day (boepd), at the high end of its forecasted range.

Jadestone Energy

Production: Group production for 2023 was 13,813 boe/d, representing c.20% year-on-year growth.

Kosmos Energy

Production: Total net production in the fourth quarter of 2023 averaged approximately 66,000 boepd representing a ~12% increase compared to the fourth quarter of 2022.
Reserves: At year-end 2023, Kosmos had 1P reserves of approximately 280 million barrels of oil equivalent (boe), representing a 1P reserves to production ratio of around 12 years and a reserve replacement ratio of 104%, primarily as a result of increased reserve recognition at Jubilee. 2P reserves as of year-end 2023 are approximately 520 million boe, representing a 2P reserves-to-production ratio of over 20 years. 

Murphy Oil

Production: In 2023, Murphy production averaged 186 MBOEPD and included 52 percent oil volumes, or 98 MBOPD. Fourth quarter production averaged 185 MBOEPD.
Reserves: After producing 68 MMBOE for the year, Murphy’s preliminary year-end 2023 proved reserves were 724 MMBOE, consisting of 36 percent oil and 41 percent liquids. Total reserve replacement was 139 percent in 2023.

Occidental

Production: Total average global production of 1,234 thousand barrels of oil equivalent per day (Mboed) for the fourth quarter exceeded the midpoint of guidance by 8 Mboed, overcoming a third-party outage in the eastern Gulf of Mexico.
Reserves: As of December 31, 2023, Occidental's worldwide proved reserves totaled 4.0 billion barrels of oil equivalent (BOE), compared to 3.8 billion BOE as of December 31, 2022. Proved reserve additions were mainly driven by positive revisions associated with infill development projects of 303 million BOE, primarily in the DJ and Permian Basins, and extensions and discoveries of 153 million BOE, mostly in the Permian Basin. The 2023 Reserves Replacement - All-In was 137%. 

PHX Minerals

Production: Royalty production volumes for the fiscal fourth quarter decreased 6% to 1,946 Mmcfe compared to the quarter ended Sept. 30, 2023, and increased 23% to 8,123 Mmcfe for the full fiscal year 2023 compared to the year ended Dec. 31, 2022.
Reserves: At Dec. 31, 2023, proved reserves were 71.2 Bcfe, as calculated by Cawley, Gillespie and Associates, Inc., the Company's independent consulting petroleum engineering firm. This was an 11% decrease, compared to the 79.7 Bcfe of proved reserves at Dec. 31, 2022. Total proved developed reserves decreased 12% to 58.3 Bcfe, as compared to Dec. 31, 2022 reserve volumes, mainly due to sales of working interest properties in the Arkoma Stack and Eagle Ford Shale.  

Ring Energy

Procuction: Sales volumes for the fourth quarter of 2023 were 19,397 Boe/d (70% oil, 15% natural gas and 15% natural gas liquids (”NGLs”)), or 1,784,490 Boe, compared to 17,509 Boe/d (69% oil, 16% natural gas and 15% NGLs), or 1,610,857 Boe, for the third quarter of 2023, and 17,856 Boe/d (68% oil, 17% natural gas and 15% NGLs), or 1,642,715 Boe, in the fourth quarter of 2022. Fourth quarter 2023 sales volumes were near the high end of the Company’s guidance of 18,900 to 19,500 Boe/d. Fourth quarter 2023 sales volumes were comprised of 1,254,619 barrels (“Bbls”) of oil, 1,613,102 thousand cubic feet (“Mcf”) of natural gas and 261,020 Bbls of NGLs.  
Reserves: The Company's year-end 2023 SEC proved reserves were 129.8 MMBoe compared to 138.1 MMBoe at year-end 2022. During 2023, Ring recorded reserve additions of 8.2 MMBoe for acquisitions and 4.8 MMBoe for extensions, discoveries and improved recovery. Offsetting these additions were 5.7 MMBoe related to the sale of non-core assets, 6.6 MMBoe of production, 5.3 MMBoe for reductions in year-over-year pricing, and 3.7 MMBoe related to changes in performance and other economic factors.

Saudi Aramco

Production: In 2023, Aramco’s average hydrocarbon production was 12.8 million barrels of oil equivalent per day (mmboed), including 10.7 million barrels per day (mmbpd) of total liquids.

Seplat Energy

Production: Seplat production averaged 47,758 boepd in 2023, up 8% from 2022 (44,104 boepd), and within original guidance.
Reserves: Year end 2023 independently audited 2P reserves increased 9% to 478 mmboe (YE 2022: 438 mmboe), 47% liquids.

Serica Energy

Production: Average net production during January and February 2024 was about 45,500 boe per day.
Reserves: Net Proved plus Probable (“2P”) reserves at 31 December 2023 of 140 million boe, up 10 million boe from 130 million boe at 31 December 2022 despite producing 14 million boe in 2023 on a proforma combined Serica and Tailwind basis. Overall 2P reserves additions of 24 million boe during 2023 representing a reserves replacement ratio of 179%

Talos Energy

Production: For the fourth quarter and full year 2023 production was 67.7 MBoe/d (76% oil, 83% liquids), and 66.3 MBoe/d (75% oil, 82% liquids), respectively.
Reserves: As of December 31, 2023, Talos had proved reserves of 152.8 MMBoe and, on a pro forma basis, including assets expected to be acquired from QuarterNorth, would have had proved reserves of 215.8 MMBoe.

Touchstone Exploration

Reserves: Touchstone Exploration year-end reserves report for 2023, highlighted the firm’s PDP reserves increasing 180% from the end of 2022 to 13.5 million barrels oil equivalent. Reflecting the delivery of the Cascadura field into production, the firm’s PDP reserves replaced 2023 annual production by 699%.

Tullow Oil
Production: In 2023, full year working interest production averaged 62.7 kboepd, including 6.9 kboepd of gas. Group working interest production is expected to increase year-on-year and the company's guidance range for 2024 is 62-68 kboepd.
Reserves: At the end of 2023, audited 2P reserves were 212 mmboe (2022: 229 mmboe). During the year, 23 mmboe of 2P reserves were produced with a replacement ratio of 26%. Additions were primarily from the extension of production licences in Gabon and the maturation of several infill wells, both in Gabon and the Jubilee area. These additions were partly offset by reductions in TEN 2P reserves, mainly driven by a reduced near-term development programme in light of the ongoing delays to gain Government approval for the TEN amended PoD. Around 30 mmboe of net gas resources remain classified as 2C pending the approval of the TEN amended PoD and Gas Sales Agreement. Commercialisation of these gas resources would place TEN on a much firmer economic footing and support the maturation of several identified projects. 

W&T Offshore

Production: 2023 full year production averaged 34.9 MBoe/d for a total of 12.7 MMBoe, comprised of 5.1 MMBbl of oil, 1.4 MMBbl of NGLs and 37.6 Bcf of natural gas. 
Reserves: Year-end 2023 SEC proved reserves were 123.0 MMBoe, compared with 165.3 MMBoe at year-end 2022. The W&T year-end 2023 proved reserves do not include the 18.7 MMBoe of proved reserves acquired in early January 2024 for $72 million. In 2023, W&T recorded positive performance revisions of 4.0 MMBoe, and acquisitions of reserves of 2.6 MMBoe, which were more than offset by 36.2 MMBoe of negative price revisions and by 12.7 MMBoe of production for the year. During 2023, W&T continued to focus on reducing Net Debt and identifying and executing attractive acquisitions. Successful workovers, operational excellence and acquisitions allowed W&T to replace 52% of production with new reserves. Approximately 41% of year-end 2023 proved reserves were liquids (30% crude oil and 11% NGLs) and 59% natural gas. The reserves were classified as 67% proved developed producing, 17% proved developed non-producing, and 16% proved undeveloped. W&T’s reserve life ratio at year-end 2023, based on year-end 2023 proved reserves and 2023 production, was 9.7 years.

Woodside

Production: Woodside produced a total of 201.0 MMboe in 2023, including 186.1 MMboe produced for sale and 15.0 MMboe of production consumed primarily as fuel in operations.
Reserves:  At 31 December 2023, Woodside’s remaining proved (1P) reserves were 2,450.1 MMboe, proved plus probable (2P) reserves remaining were 3,757.1 MMboe, while the best estimate (2C) contingent resources remaining were 5,902.0 MMboe.

Zephyr Energy
Production: Zephyr Energy's 2023 fourth-quarter production volumes averaged 1,053 barrels oil equivalent per day (boepd), a 7% increase from the previous quarter.