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Press Releases | |
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EIA ReportsU.S. DEPARTMENT OF ENERGY U.S Oil and Gas Reserves Increase in 2000U.S. crude oil, natural gas, and natural gas liquids proved reserves increased in 2000 according to the Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves, 2000 Annual Report released today by the Energy Information Administration. Proved reserves of dry natural gas increased 6 percent, by far the largest increase since EIA has been estimating the Nation's proved gas reserves. Such an unusually large increase should not be expected to occur very often in the future, because the number of frontier areas is diminishing. In addition, the unusual combination of a large increase in the number of exploratory wells and a large increase in total discoveries per exploratory well is unlikely to occur very often in the future, because an increase in the number of exploratory wells usually decreases discoveries per well. Reserves additions replaced 152 percent of U.S. dry natural gas production [Figure 1]. The majority of natural gas proved reserves additions came from Texas and New Mexico in the Southwest, and from States with large coalbed methane reserves like Wyoming, Colorado, and Utah. U.S. natural gas proved reserves have increased in six of the last seven years. Natural gas liquids reserves increased in proportion with natural gas reserves. U.S. crude oil proved reserves increased about 1 percent. Crude oil reserves additions replaced 115 percent of oil production [Figure 2]. The majority of crude oil proved reserves additions came from the deepwater Gulf of Mexico Federal Offshore frontier area [Figure 3]. Large total discoveries of crude oil in 2000 also came mainly from this Federal Offshore frontier area and the Alaskan North Slope, which both provided very high discoveries per exploratory well [Figure 4]. Proved reserves are the estimated quantities, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Petroleum engineering and geological judgment are required in estimating proved reserves; therefore, the results are not precise measurements. This report of 2000 U.S. proved reserves of crude oil, natural gas, and natural gas liquids is the 24th in an annual series prepared by the Energy Information Administration. Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves, 2000 Annual Report is available on the EIA Internet site at: http://www.eia.doe.gov/pub/oil_gas/natural_gas/data_publications/advanced_summary_2000/adsum2000.pdf
EIA Program Contact: : John Wood, 214/720-6150 EIA-2001-12 Contact:
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