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US gas reserves climb as oil declines again
11/19/2007
US proved reserves of gas were up 3.3% in 2006 compared with 2005, natural gas liquids reserves were up 3.8%, and crude oil reserves fell 3.6%, the Energy Information Administration reported.Reserves at Dec. 31, 2006, totaled 20.97 billion bbl of crude oil, 211 tcf of gas, and 8.47 billion bbl of NGL.Operators replaced 136% of the dry gas produced, 138% of the NGL produced, and 52% of the oil produced in 2006.Gas reservesEIA attributed the gas reserves increase, to the highest level since 1976, mainly to a 9% increase in dry gas proved reserves in Texas from rapid development of Barnett shale reservoirs in Newark East field.US dry gas reserves stood at 164 tcf at the end of 1998 and have ...
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