Post #11647 by CrankyCharlie on the Berkshire Hathaway board

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Chevron’s oil and gas reserves have fallen to the lowest level in at least a decade. The reserves are down 11.7% from 11.1 billion barrels of oil equivalent in 2023 to 9.8bn at the end of last year. Its reserve replacement ratio has been just 88% over the past 10 years, with an organic replacement ratio – (i.e. excluding acquisitions) – down to just 45%.

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