Williams boosts US, global reserves

Williams Cos. Inc., Tulsa, reported US proved reserves of 3.4 tcf of natural gas equivalent as of Dec., 31, 2005, compared with 3 tcf at yearend 2004. More than 99% of the total is gas.

March 2, 2006

By OGJ editors
HOUSTON, Mar. 2 -- Williams Cos. Inc., Tulsa, reported US proved reserves of 3.4 tcf of natural gas equivalent as of Dec., 31, 2005, compared with 3 tcf at yearend 2004. More than 99% of the total is gas.

Non-US proved reserves, 65% crude oil and liquids, increased to 37 million boe in 2005 from 36 million boe in 2004.

The company reported its total worldwide reserves in gas equivalent: 3.6 tcf.

Williams attributed most of its US reserves additions to drilling and increased well density in the Piceance basin and drilling in the Powder River basin and other basins. Williams also acquired interests in the Fort Worth basin in 2005.

The company's drilling added 603 bcf of gas equivalent in net reserves during 2005, compared with 451 bcf in 2004 and 408 bcf in 2003.

Average production from domestic and international interests was 662 MMcfd of gas equivalent, compared with 564 MMcfd for 2004. Production from US interests increased to 612 MMcfd of gas equivalent in 2005 from 519 MMcfd in 2004.