For fifth year in a row, proved gas reserves rise

For fifth year in a row, proved gas reserves rise in 2003: US EIA

Washington (Platts)--22Sep2004


Proved reserves of gas increased for the fifth year in a row in 2003, the US
Energy Information Administration reported Wednesday. In its advance summary
of the 2003 oil, gas and gas liquids reserve report, EIA noted that US
reserves increased by 1% last year. The lion's share of total discoveries were
attributed to extensions of existing conventional and unconventional gas
fields, it said, adding that reserve additions replaced 111% of 2003 gas
production. US gas production remained almost level in 2003 as declines in the
US Gulf of Mexico and New Mexico were offset by production increases in the
Rocky Mountain states and Texas, said the report, noting that those increases
were "driven by continuing development of unconventional gas fields" in tight
sands, shales and coalbeds. Significant reserves were added in the Powder
River and Green River basins in Wyoming, as well as in the Wattenberg Field
and San Juan Basin in Colorado and New Mexico, EIA said.

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