Reserve Replacement Expectations for Petrobras (NYSE:PBR), Exxon (NYSE:XOM), Suncor (NYSE:SU), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP)

Petrobras (NYSE:PBR) has already released a summary of their reserve replacement for 2010, and Exxon (NYSE:XOM), Suncor (NYSE:SU), Chevron (NYSE:CVX) and ConocoPhillips (NYSE:COP) will follow soon.

Barclays noted, "On 01/14, Petrobras released their 2010 reserve replacement summary. We think the report should have a neutral to slightly positive impact on the shares' near-term performance, in light of the strong but not unexpected reserve replacement result. According to the SEC standard, the company reported 2010 reserve replacement of 170% compared to reserve replacement of 210% in 2009.

"Petrobras (PBR) is the first company in our universe to report a 2010 reserve replacement number. We think the sector result will be mixed. We expect Exxon Mobil (XOM) will report a strong organic reserve replacement result due to their Iraq exposure while Suncor (SU) should report a strong result related to Firebag 3 and 4. Meanwhile, we think Chevron (CVX) and ConocoPhillips (COP) will likely report subpar results in 2010 due to the lack of meaningful major project bookings. CVX result will also be hurt by the PSC effects from higher oil prices."

Petrobras closed Tuesday at $37.43, up $0.01, or 0.03 percent. Exxon Mobil closed at $78.71, up $0.87, or 1.12 percent. Suncor closed the session at $39.03, gaining $0.26, or 0.67 percent. Chevron closed at $93.35, up $0.52, or 0.56 percent. ConocoPhillips ended the trading day at $68.09, up $0.37, or 0.55 percent.