Oil related companies

[Dividend Watcher]

KenBob, interesting comment and, at first glance, may be a factor that should be taken into account when looking at valuation. How do you handle it when a well proves itself and boosts the company's reserve balance? Go back to valuing it as a regular company?

I always assumed that as proven reserves kept dwindling, the majors would branch out more into alternative energy sources. Maybe they have to some extent but it really isn't large enough right now to have a noticeable affect on the income statement or the balance sheet.