U.S. proved reserves of crude oil, natural gas, and natural gas liquids all rose in 1999 (see table), and crude oil reserves posted the largest percentage increase (3.5) in the 23 years the Energy Information Administration has been compiling these data.
| U.S. Proved Reserves, 1989-1999 | ||||||
|
Year |
Crude Oil |
Natural Gas Liquids |
Dry Natural Gas |
|||
|
Million Barrels |
Percent Change from |
Million Barrels |
Percent Change from |
Billion |
Percent Change from |
|
|
1989 |
26,501 |
-1.2 |
7,769 |
-5.7 |
167,116 |
-0.5 |
|
1990 |
26,254 |
-0.9 |
7,586 |
-2.4 |
169,346 |
+1.3 |
|
1991 |
24,682 |
-6.0 |
7,464 |
-1.6 |
167,062 |
-1.3 |
|
1992 |
23,745 |
-3.8 |
7,451 |
-0.2 |
165,015 |
-1.2 |
|
1993 |
22,957 |
-3.3 |
7,222 |
-3.1 |
162,415 |
-1.6 |
|
1994 |
22,457 |
-2.2 |
7,170 |
-0.7 |
163,837 |
+0.9 |
|
1995 |
22,351 |
-0.5 |
7,399 |
+3.2 |
165,146 |
+0.8 |
|
1996 |
22,017 |
-1.5 |
7,823 |
+5.7 |
166,474 |
+0.8 |
|
1997 |
22,546 |
+2.4 |
7,973 |
+1.9 |
167,223 |
+0.4 |
|
1998 |
21,034 |
-6.7 |
7,524 |
-5.6 |
164,041 |
-1.9 |
|
1999 |
21,765 |
+3.5 |
7,906 |
+5.1 |
167,406 |
+2.1 |
| a 14.73 pounds per square inch absolute, 60° Fahrenheit. Note: Reserves are measured at the end of the year. Source: Energy Information Administration. |
||||||
Proved reserves are those quantities that geological and engineering data demonstrate with reasonable certainty to be recoverable in the future from known reservoirs under existing economic and operating conditions. For crude oil reserves in 1999, the key element in this definition was "economic conditions," for it was largely the increase in crude oil prices that boosted the proved reserves. The December 1999 oil price used to estimate proved reserves was about three times the December 1998 price. The annual average domestic first purchase price rose 43 percent from the 1998 level, to $15.56 per barrel. Exploratory oil well completions, on the other hand, fell nearly 50 percent and total well completions were down about 40 percent, primarily because the low (and slow-recovering) 1998 oil prices did not support higher levels of drilling activity.
Natural gas proved reserves rose more than 2 percent, marking the fifth yearly increase in 6 years. Notable increases were seen in Texas, Colorado, and Utah, although reserves declined in Oklahoma and the Gulf of Mexico. Coalbed methane reserves and production continued to grow faster in 1999 than those of conventional gas; coalbed methane reserves rose to 8 percent of proved natural gas reserves and accounted for 7 percent of total dry gas production in 1999.
Natural gas liquids reserves, the sum of natural gas plant liquids and lease condensate reserves, rose more than 5 percent. Natural gas liquids represented 27 percent of total liquid hydrocarbon proved reserves in 1999.
Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves, 1999 Annual Report, DOE/EIA-0216(99)Advance Summary; 16 pages, 9 tables, 9
figures. This report is available only via the Internet.
If you are having technical problems with this site, please contact the EIA Webmaster at wmaster@eia.doe.gov or call 202-586-8959. For general information about energy, contact the National Energy Information Center at 202-586-8800 or infoctr@eia.doe.gov.
URL: http://www.eia.doe.gov/emeu/plugs/plngl99.html
File last modified: October 25, 2000
