U.S. ENERGY INFORMATION ADMINISTRATION
WASHINGTON DC 20585
FOR IMMEDIATE RELEASE
August 1, 2012
Crude Oil Reserves Up 13 Percent to Highest Level Since
1991
Natural Gas Reserves Up 12 Percent, Top 300 Trillion Cubic
Feet for First Time
U.S. proved crude oil and natural gas reserves achieved
record annual volumetric increases in 2010 according to
U.S. Crude Oil, Natural Gas, and Natural Gas Liquids
Reserves, 2010, released today by the U.S. Energy
Information Administration (EIA).
"The use of horizontal drilling and hydraulic
fracturing in shale and other tight rock formations played
an important role in the increase of oil and natural gas
reserves," said EIA Administrator Adam Sieminski.
"For both oil and natural gas, these reserves
increases underscore the potential of a growing role for
domestically-produced hydrocarbons in meeting current and
projected U.S. energy demand."
Proved oil reserves, which include crude oil and lease
condensate, increased by 13 percent in 2010 to 25.2 billion
barrels, marking the second consecutive annual increase and
the highest volume of proved reserves since 1991.
Texas recorded the largest volumetric increase in proved
oil reserves among individual states, largely because of
ongoing development in the Permian and Western Gulf Basins,
while North Dakota had the second largest increase, driven
by development activity in the Bakken formation in the
Williston Basin.
Natural gas proved reserves, estimated as "wet"
gas that includes natural gas plant liquids, increased by
12 percent in 2010 to 317.6 trillion cubic feet (Tcf), the
twelfth consecutive annual increase and the first year U.S.
reserves surpassed 300 Tcf.
Texas also led the nation in additions of natural gas
proved reserves, primarily because of continued development
of the Barnett and Haynesville/Bossier shale formations.
Louisiana had the second largest volumetric increase,
largely the result of ongoing development activity in the
Haynesville shale formation. In Pennsylvania, accelerated
drilling programs in the Marcellus shale formation more
than doubled the state's year-end 2009 volumes.
Contributing to the increases for both oil and natural gas
proved reserves was the expanding application of horizontal
drilling and hydraulic fracturing in shale and other
"tight" (very low permeability) formations.
Another important factor for each fuel - particularly oil -
was a higher price used to assess economic viability
relative to the prices used for the 2009 reporting year.
Proved reserves are those volumes of oil and natural gas
that geological and engineering data demonstrate with
reasonable certainty to be recoverable in future years from
known reservoirs under existing economic and operating
conditions. EIA's estimates of proved reserves are
based on an annual survey of about 1,200 domestic oil and
gas well operators.
Publication of 2010 reserves data was delayed because of
budgetary restrictions that limited EIA's survey data
collection efforts. U.S. Crude Oil, Natural Gas, and
Natural Gas Liquids Reserves, 2010 is available on the
EIA Internet site at: http://www.eia.gov/naturalgas/crudeoilreserves/.
The product described in this press release was prepared by
the U.S. Energy Information Administration (EIA), the
statistical and analytical agency within the U.S.
Department of Energy. By law, EIA's data, analysis, and
forecasts are independent of approval by any other officer
or employee of the United States Government. The views in
the product and press release therefore should not be
construed as representing those of the Department of Energy
or other Federal agencies.
EIA Program Contact: Steven G. Grape, 202-586-1868, Steven.Grape@eia.gov
EIA Press Contact: Jonathan Cogan, 202-586-8719, Jonathan.cogan@eia.gov
EIA-2012-05
Recommend:
