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Proved Oil and Gas Reserves on the Rise in the U.S. Adapted from Information by the u.S. Energy Information Administration According to a recent report from the U.S. EIA (Energy Information Administration), the country’s 2014 crude oil proved reserves increased for the sixth year in a row with a net addition of 3.4 billion barrels of proved oil reserves (a 9% increase). The report, U.S. Crude Oil and Natural Gas Proved Reserves, 2014 , also indicated an increase of 10% for natural gas proved reserves raising the U.S. total to a record 388.8 trillion cubic feet (Tcf). At the state level, Texas had the largest increase in proved reserves, 2054 million barrels (60% of the nation's total net increase) in 2014. Most of these new oil reserves were added in the Texas portion of the Permian Basin and the Eagle Ford Shale play. North Dakota had the sec- ond-largest increase - a net gain of 362 million barrels - most of which were added in the Bakken tight oil play of the Williston Basin. Pennsylvania added 10.4 Tcf of natural gas proved reserves (the largest net increase for any state in 2014) driven by continued development of the Marcellus Shale play. Texas added 8 Tcf of natural gas proved reserves, mostly from the Eagle Ford Shale play and natural gas associated with the state’s gain in oil reserves in the Permian Basin. Natural gas from shale formations was 51% of the U.S. total of natural gas proved reserves in 2014. U.S. production of both oil and natural gas increased in 2014. Production of crude oil and lease condensate increased about 17%, while U.S. production of natural gas increased 6%. What are Proved Reserves? The volume of oil and natural gas geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under existing economic and operat- ing conditions. Blasters Weekend January 30 - 31, 2016 Register Now! www.isee.org For more information: International Society of Explosives Engineers Tel: (440) 349-4400 meetings@isee.org Mark Your Calendar! Paris Las Vegas Hotel & Casino 36 JANUARY 2016 WorldWide Drilling Resource ®