CANADIAN OIL AND GAS RESERVES CONTINUE TO SLIP

08/31/1992
Canadian oil and gas reserves continued to slide in 1991. The Canadian Petroleum Association said oil reserves declined 2.9% last year and natural gas reserves fell 0.7%. Conventional crude reserves declined 6.7% to 4.1 billion bbl. Gas reserves in producing regions dropped slightly to 71.2 tcf. The industry replaced only 32.4% of conventional oil production and 86.9% of gas production in 1991. CPA said reserves of oilsands bitumen from in situ projects fell 5.9%, but there was a 2.2% increase in bitumen reserves from surface mining operations to 2 billion bbl. Reserves of liquid petroleum gas also inc...
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