Reserves

U.S. Energy Risk Seen at Lowest Level in 50 Years, Thanks to Lower 48 Oil, Natural Gas Reserves

U.S. Energy Risk Seen at Lowest Level in 50 Years, Thanks to Lower 48 Oil, Natural Gas Reserves

On the strength of domestic oil and gas production, last year saw the United States enjoy the greatest level of energy security since at least 1970, according to a report published Wednesday by the U.S. Chamber of Commerce’s Global Energy Institute (GEI). In the 2020 edition of its annual Index of U.S. Energy Security Risk,…

November 1, 2020
Noble Energy Shareholders Say Yes to Chevron Marriage

Noble Energy Shareholders Say Yes to Chevron Marriage

Shareholders of Houston-based Noble Energy Inc. on Friday approved a pending merger with Chevron Corp. in a special meeting, all but guaranteeing the tie up will be completed by year’s end. Chevron in July clinched a definitive agreement in an all-stock transaction worth $5 billion that carried a total enterprise value, including debt, of $13…

October 2, 2020
Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Lower Crude Prices Forecast to Reduce Global Reserves Growth, Increase Impairments

Oil and natural gas exploration and development (E&D) is predicted to decline in line with lower crude prices, which in turn would ding the value of proved reserves, the Energy Information Administration (EIA) said Thursday.

June 4, 2020

CNX Increases Proved Reserves 7% on Continued Marcellus, Utica Development

Appalachian pure-play CNX Resources Corp. increased its total proved reserves 7% year/year to 8.43 Tcfe as of the end of the fourth quarter, replacing more than 300% of its 2019 net production, management said Monday.

February 10, 2020

U.S. Set Records for Proved Natural Gas, Oil Reserves and Production in 2018

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).

December 13, 2019
Potential U.S. NatGas Reserves, Boosted by Shale Gas Update, Hit Record 3,374 Tcf

Potential U.S. NatGas Reserves, Boosted by Shale Gas Update, Hit Record 3,374 Tcf

Potential natural gas reserves in the United States were an estimated 3,374 Tcf at the end of 2018, a record high, according to a biennial report conducted by the Potential Gas Committee (PGC).

September 11, 2019
Montney’s Natural Gas In Place Estimated at 1,965 Tcf

Montney’s Natural Gas In Place Estimated at 1,965 Tcf

Canada’s rich gas vein, the Montney formation, dominates British Columbia (BC) production, even though the industry has only scratched the surface to date, the BC Oil and Gas Commission (BCOGC) said.

April 16, 2019

ExxonMobil Replaces 313% of ’18 Production, with Permian Adding to Liquids Growth

ExxonMobil Corp. said it added 4.5 billion boe of proved oil and natural gas reserves in 2018, replacing 313% of the year’s production, to a total of 24.3 billion boe at the end of the year.

February 27, 2019
Potential U.S. NatGas Reserves Hit Record 3,141 Tcf

Potential U.S. NatGas Reserves Hit Record 3,141 Tcf

Estimates of potential natural gas reserves in the United States stood at a record 3,141 Tcf at the end of 2016, with shale plays accounting for 64% of the total, according to a biennial report conducted by the Potential Gas Committee (PGC).

July 19, 2017

BC Tallies Underlying NatGas at 3,337 Tcf, Proved at 41 Tcf, Probable at 532 Tcf

By the British Columbia Oil and Gas Commission’s count, only 1.4% of an astronomical 3,337 Tcf of gas in five BC geological structures have made the jump from estimated resources to tapped reserves so far, even though provincial production doubled to about 5 Bcf/d since 2000.

July 6, 2017
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