Date: 7 months ago   Category: Economy

The proved reserves of oil and gas in the USA reached historic highs


The proved reserves of oil and gas in the USA last year reached historic highs.

reported about it Management of power information, Enkorr tells.

By its estimates, the proved oil reserves in the USA jumped by 19.5% (6.4 billion barrels) - up to 39.2 billion barrels for the end of 2017.

the Previous record was set in 1970 and made 39 billion barrels. The greatest pure gain from all states was observed in Texas (3.3 billion barrels).

Reserves of natural gas increased by 123.2 trillion cubic feet (36.1%), - to 464.3 trillion cubic feet (13.14 trillion CBM). The previous record at the level of 388.8 trillion cubic feet (10.99 trillion CBM) was set in 2014.

last year of the USA increased oil production by 6% in comparison with 2016, gas - for 4%.

in many respects increase in assessment of reserves of oil and gas is explained by increase in prices in 2017 and 2018: Securities and Exchange Commission (SEC) allows to rank only those fields on which production is profitable at the current price level as the proved stocks.

"New record levels of the proved stocks became possible thanks to increase in prices for oil and natural gas in combination with the continuing development of slate fields and low-permeability collectors", - EIA notes.

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