Shell Anticipates 85% Reserve Replacement Ratio for 2023
Shell plc (NYSE: SHE) forecasts an 85% reserve replacement ratio (RRR) for the previous year. The RRR metric determines the rate at which oil and gas companies replenish their reserves relative to production. A ratio exceeding or equal to 100% indicates that the company maintains or exceeds its reserve replacement rate.
For the three-year horizon, Shell aims for a 108% RRR. The energy giant projects its 2024 reserves to reach approximately 9.6 billion barrels of oil equivalent.