U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2017 released

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U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2017 released

Proved reserves of crude oil in the United States increased 19.5% from year-end 2016, rising to 39.2 billion barrels and surpassing the previous peak level of U.S. crude oil proved reserves of 39.0 billion barrels set in 1970. Proved reserves of natural gas increased 36.1% to 464.3 Tcf at year-end 2017 and breaking a 2014 record for total natural gas proved reserves. Both U.S. proved reserves of crude oil and natural gas are approximately double their levels from a decade ago. Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove these new all-time record levels of proved reserves according to U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2017, released today by the U.S. Energy Information Administration (EIA).

https://www.eia.gov/naturalgas/crudeoilreserves/index.php