EIA: US proved oil reserves down in 2003

US proved reserves of crude oil fell 3.5% on the year to 21.89 billion bbl in 2003, the US Energy Information Administration reported. It was the first decline in 5 years.Dry natural gas reserves were 1.1% higher in 2003 at 189 tcf—he fifth straight year of increase. Gas reserves have increased in 9 of the past 10 years.Coalbed methane reserves increased 1% to 18.7 tcf and accounted for 10% of US dry gas proved reserves. CBM production fell less than 1% to 1.6 tcf in 2003 and accounted for 8% of US dry gas production, EIA said.Fourteen states produced CBM in 2003. The largest are Colorado, 488 bcf/year; New Mexico, 451 bcf/year; and Wyoming, 344 bcf/year.Overall US gas production wa...

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