California leads '97 U.S oil reserves growth

U.S. Proved Reserves of Crude, Dry Gas, and Natural Gas Liquids [295,120 bytes] Oil and Gas Discoveries Surge in 1997 [174,459 bytes] California's old heavy oil fields accounted for almost half the year-to-year increase in U.S. proved oil reserves in 1997. It was the first time in a decade that the estimate of U.S. proved reserves of crude oil rose from year to year. U.S. natural gas reserves also increased in 1997, the fourth year in a row, says U.S. Energy Information Administration (OGJ, Sept. 14, 1998, Newsletter). EIA said, "Oil and gas discoveries in the federal offshore, several in deep water, also played a major role in the oil and gas reserves increas...

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