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 ...


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