El Paso Corp. (EP) reported that as of December 31, 2009, it had 5.1 trillion cubic feet equivalent or Tcfe of estimated total risked unproved resources, or 8.9 Tcfe unrisked, in addition to its 2.75 Tcfe of proved natural gas and oil reserves.
The company's risked total unproved resources rose approximately 1.6 Tcfe, or 44%, from year-end 2008 levels. The majority of the increase was due to the addition of extensive drilling opportunities in the Haynesville Shale and Eagle Ford Shale programs. Unproved resources and proved reserves include the company's proportionate share of Four Star Oil & Gas Company and represent the company's net interest.
The corporation's future drilling inventory, which includes proved undeveloped reserves, is about 6.0 Tcfe of risked resource potential, or almost 6,000 drilling locations. At current activity levels, this represents more than 10 years of drilling inventory.
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