USGS estimates potential conventional reserves growth outside US

06/25/2012
The US Geological Survey released a new global estimate for potential oil and gas reserve additions in conventional discovered fields outside the US. Mean undiscovered conventional reserve potential grew by 665 billion bbl of oil, 1,429 trillion cubic feet of natural gas, and 16 billion bbl of natural gas liquids, USGS said June 18. The estimates are for technically recoverable oil and gas excluding US reserves growth estimates, which will be released in coming months. No attempt was made to estimate economically recoverable oil and gas as part of the projections. Continuous or unconventional formations were not included. The new assessment is based on detailed analysis of geology and eng...
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