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U.S. crude oil and natgas reserves both rise over 9 pct in 2013

U.S. proven crude oil and lease condensate reserves increased 9.3 percent to 36.5 billion barrels in 2013, up from 33.4 billion barrels in 2012, the U.S. Energy Information Administration said in a report Thursday.

EIA also said proven wet natural gas reserves gained 9.7 percent to 354 trillion cubic feet in 2013, up from 322.7 tcf in 2012.

North Dakota's crude oil and lease condensate proved reserves, meanwhile, surpassed those of the federal Gulf of Mexico, ranking it second only to Texas among U.S. states, EIA said.

Tight oil plays accounted for 28 percent of all U.S. crude oil and lease condensate proved reserves, EIA said. (Reporting by Scott DiSavino, Editing by Franklin Paul)

Published on:
December 4, 2014
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