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Oct. 27, 2003 -- Proved reserves of natural gas and crude oil have increased for the fourth year in a row, according to "Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves 2002 Annual Report", released Monday by the Energy Information Administration. In fact, natural gas proved reserves have increased in eight of the past nine years.
U.S. natural gas reserves increased by 2 percent in 2002. Reserves additions were 118 percent of production. However, gas production declined 2 percent in 2002. Sharp production declines in the Gulf of Mexico were partially offset by large production increases in the Rocky Mountain States.
In 2002, the Rocky Mountain States and Texas had large gas reserves additions. These additions highlight a shift from conventional gas fields to unconventional gas fields, i.e., tight sands, shales, and coalbeds. Eleven of the top 20 natural gas fields of 2002 are located in the Rocky Mountain States.
Significant reserves were added in the Powder River Basin coalbed methane fields and the Pinedale Field (deep and tight sand) in Wyoming, and the Wattenberg Field (tight sand) and coalbed methane fields in Colorado. In Texas, significant reserves were added in the Newark East Field (Barnett Shale), the Nation's tenth largest natural gas field.
Coalbed methane reserves increased 5 percent from 2001 and accounted for 10 percent of U.S. dry gas proved reserves. Coalbed methane production increased 3 percent from 2001 and accounted for 8 percent of U.S. dry gas production.
The majority of natural gas total discoveries in 2002 were from extensions of existing conventional and unconventional gas fields.
U.S. crude oil proved reserves increased by 1 percent in 2002. Reserves additions were 112 percent of production. Ninety-seven percent of all new field discoveries of crude oil reported in 2002 were in the Gulf of Mexico Federal Offshore.
The majority of crude oil total discoveries in 2002 were from extensions of existing oil fields, particularly in Texas, California, and the Gulf of Mexico Federal Offshore.
Advance Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves, 2002 Annual Report is available on the EIA Internet site at:
http://www.eia.doe.gov/oil_gas/fwd/adsum2002.html
The report described in this article was prepared by the Energy Information Administration, the independent statistical and analytical agency within the U.S. Department of Energy.
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