This news is classified in: Traditional Energy Oil and Gas
Feb 13, 2018
The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of December 31, 2016, an increase of 5% from 2015, according to U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016, released today by the U.S. Energy Information Administration (EIA). U.S. crude oil and lease condensate proved reserves remained at 35.2 billion barrels at year-end 2016 (a slight net decline of 17 million barrels).
Pennsylvania had the largest net increase in natural gas proved reserves of all states in 2016, adding 6.1 Tcf of natural gas proved reserves in the Marcellus Shale play in the Appalachian Basin. The share of natural gas proved reserves from shale compared with total natural gas increased from 54% in 2015 to 62% in 2016.
Texas had the largest net increase in proved reserves of crude oil and lease condensate of all states in 2016, adding 941 million barrels of proved crude oil and lease condensate reserves, mostly from development in the Permian Basin. Operators drilled and completed long, horizontal wells into the stacked oil-bearing formations of the Spraberry Trend and the Wolfcamp Shale.
Forecasts by Application (Exploration Wells, Production Wells), by Component (Umbilicals, Risers, Flowlines), by Flowlines (Production Flowlines, Injection Flowlines, Export Flowlines, Other), by Risers (Steel Catenary Risers (SCR), Top Tensioned Risers (TTR), Steel Lazy Wave Risers, Buoyant Risers, Flexible & Hybrid Risers), by Umbilicals (Hydraulic Umbilicals, Electro Hydraulic Umbilicals, Electro-Optical Umbilicals, Control Umbilicals, Intervention Umbilicals, Production Umbilicals) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis
Download free sample pagesIn 2016, U.S. production of crude oil and lease condensate decreased by 6% from 2015, and U.S. production of total natural gas decreased by 1%.
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