The Energy Information Administration reports U.S. oil reserves dropped 6% and natural gas reserves 1.3% in 1991. EIA Administrator Calvin Kent said the oil reserves drop, the largest since 1977, was not surprising due to falling oil and gas prices and a 20 year low in the count of active drilling rigs. The drop in gas reserves was relatively small, and surplus gas productive capacity continued throughout 1991. As of Dec. 31, 1991, U.S. proved reserves were 24.682 billion bbl of oil, 167.062 tcf of dry gas excluding gas in underground storage, and 7.466 billion bbl of natural gas liquids including lease condensate. EIA ...

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