Gas reserves grew substantially in 2000 partly because of declines in production, but also because of a turnaround in drilling, according to a new report by the American Gas Association. The AGA report shows that based on the behavior of 30 large reserve holders examined, total domestic gas reserve additions are expected to be 24 Tcf or greater for 2000. Because only 19.2 Tcf is estimated to have been produced, reserves for 2000 are expected to have grown from 164.7 Tcf to more than 170 Tcf — the highest level of reserves since 1987, AGA said. Additions to gas reserves exceeded domestic production by at least 26% in 2000.
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Articles from Turnaround
Producers Seek ‘Crude Awakening’ in D.C.
Unconvinced that the latest uptick in domestic oil pricessignals a turnaround, domestic producers last week descended on theWhite House and Capitol Hill to make a direct pitch for marginalwell tax credits, exploration and production (E&P) incentivesand other economic reforms to boost the ailing oil and gasindustry.
March 22, 1999
Touch of Winter Gives Humongous Lift to Prices
In a huge turnaround of the cash market spurred by the arrivalof weather that finally appeared more wintry than springlike,prices were skyrocketing Monday from the abyss into which they hadsunk prior to the weekend. To say that double-digit increasescharacterized trading was a gross understatement when many pointswere rising by 50-60 cents or more.
December 8, 1998
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