The EIA reported today that U.S. proved reserves of oil increased for the fifth year in a row in 2013, while U.S. natural gas proved reserves increased 10% and are now at an all-time high.
A net addition of 3,100 million barrels (MMBO) of proved oil reserves (a 9% increase) led to a fifth straight year of increased oil reserves in 2013. North Dakota led in additions of oil reserves (adding almost 2 billion barrels of proved oil reserves in 2013, a 51% increase from 2012) because of development of the Bakken and Three Forks formations in the Williston Basin. North Dakota’s proved oil reserves surpassed those of the federal offshore Gulf of Mexico for the first time last year. Texas had the second largest increase, adding 903 MMBO of proved oil reserves in 2013.
The 10% increase in natural gas more than offset the 7% decline in proved reserves seen in 2012, and raised the U.S. total to a record level of 354 trillion cubic feet (Tcf). Pennsylvania and West Virginia reported thee largest net increases in natural gas proved reserves in 2013, driven by continued development of the Marcellus Shale play. Combined, these two states added 21.8 Tcf of natural gas proved reserves in 2013 (13.5 Tcf in Pennsylvania and 8.3 Tcf in West Virginia) and were 70% of the net increase in proved natural gas reserves in 2013.
U.S. production of both oil and natural gas increased in 2013: Production of crude oil and lease condensate increased 15% (rising to 7.4 MMBOEPD from 6.5 MMBOEPD), while U.S. production of natural gas increased 2% (rising to 73 Bcf/d from 71 Bcf/d).
|Crude oil and lease condensate (billion barrels)||Wet natural gas (Tcf)|
|2012 U.S. proved reserves||33.4||322.7|
|2013 U.S. proved reserves||36.5||354|
|Net additions to U.S. proved reserves||3.1||31.3|
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