Proved

U.S. crude oil and lease condensate proved reserves increased by 12% in 2018 compared with 2017, and natural gas proved reserves rose 9% year/year, setting new records, according to data from the Energy Information Administration (EIA).

ExxonMobil Corp. recorded a 19.3% reduction in its proved reserves in 2016, its steepest reduction ever, erasing almost 3.3 billion boe to end the year at under 20 billion boe. Only 65% of production was replaced last year, marking the second year in a row the supermajor failed to fully replace its output.

ExxonMobil Corp. recorded a 19.3% reduction in its proved reserves in 2016, its steepest reduction ever, erasing almost 3.3 billion boe to end 2016 at under 20 billion boe. The supermajor only replaced 65% of its production last year, marking the second year in a row it failed to fully replace its output.

Proved reserves of natural gas in the United States decreased 64.5 Tcf in 2015, a 16.6% decline from 2014’s historic high, and U.S. crude oil and lease condensate proved reserves declined 4.7 billion bbl (11.8%) compared with the previous year, both impacted by lower prices, according to the Energy Information Administration (EIA).

Antero Resources increased its proved reserves 4% in 2015, including 2.9 Tcfe through the drill bit and 1.1 Tcfe of ethane reserves added after its first de-ethanizer was placed online last month at the MarkWest Sherwood facility in Doddridge County, WV, the company said Wednesday.

Proved reserves of natural gas in the United States finished at 388.8 Tcf in 2014, setting a record high for the second consecutive year, the Energy Information Administration (EIA) said in a report published Monday.

U.S. proved reserves of crude oil and lease condensate exceeded the 36 billion bbl threshold for the first time since 1975, while North Dakota surpassed the federal Gulf of Mexico (GOM) and is now second only to Texas, according to the U.S. Energy Information Administration (EIA).

U.S. natural gas proved reserves increased nearly 10% and reached a record 354 Tcf in 2013, according to the U.S. Energy Information Administration (EIA). Meanwhile, North Dakota’s crude oil and lease condensate proved reserves surpassed those of the federal Gulf of Mexico (GOM), ranking it second only to Texas among U.S. states.

Panhandle Oil & Gas Inc. said its total proved reserves had increased 36% at the end of the third quarter, thanks in part to its acquisition of producing properties and drilling locations in the Eagle Ford Shale last June.