Oil Cos Face Challenges Obtaining New Reserves

A string of disclosures in recent weeks has revealed the greater challenge some oil companies face in trying to find more oil than they produce.

For some, buying rival companies helps mask the growing difficulty of obtaining new oil and gas at economic rates. But the industry at large is under pressure as national champions become globally competitive, rigs are hard to come by and companies increasingly feel the impact of U.S. regulations.

The rate at which new hydrocarbon reserves are added to make up for every barrel produced is a key indicator of an oil company's future growth.

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