2013 Forecast: U.S. reserves see third consecutive year of growth, driven by independents ///

End-of-year oil reserves increased for the third consecutive year, and gas reserves grew from 18.6 Bbbl in 2010 to 20.3 Bbbl in 2011, while gas reserves increased 4%, combined annual growth in the five-year period analyzed by Ernst & Young in its 2012 US E&P benchmark study. This compilation includes the 50 largest companies, based on 2011 end-of-year oil and gas reserve estimates. In the case of both oil and gas reserves, the largest portion of the increased reserves presumably came from tight formations. An increase in gas reserves is also attributed to unconventional shale gas formations.

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