The world's second-largest oil company Royal Dutch/Shell -- represented by two trading stocks, Royal Dutch
The shell game (yep, it's a pun) of now-you-see-them now-you-don't "proven" reserves may not stop at Shell's doorstep. The only project named in today's announcement is the $8 billion Australian Gorgon natural gas venture. Shell owns 28.6% of this project, while ChevronTexaco
Shell-shocked (yeah, sorry) oil exploration and production stock investors have a lot to assess, especially owners of Shell. The company's accounting was widely thought to have been quite conservative. Further, Shell, along with BP
Most of the world's major oil companies are struggling to replace depleted oil reserves. Many of their fields are maturing and passing their peak production phase. Just last year, Shell stated that they would build reserves by 3% a year. It all sounds like Conspiracy Theory meets Three Card Monte -- and shareholders lose.
W.D. Crotty owns stock in ExxonMobil and ChevronTexaco -- and is anxious to learn what the decrease in Shell reserves really means. You can e-mail W.D. at email@example.com ,or join him on The Motley Fool's Oil and Gas discussion board. For a 30-day free trial to the discussion boards, click here.