The US Geological Survey released a new estimate for increased conventional onshore domestic oil and gas reserves.
The mean potential undiscovered reserve additions are 32 billion bbl of oil, 291 Tcf of natural gas, and 10 billion bbl of natural gas liquids (NGL). The estimate does not include the growth estimate for federal offshore areas or unconventional reserves such as shale gas, tight gas, and tight oil.
World growth estimates were published by the agency in April.
Most reserve growth results from delineation of new reservoirs, field extensions, and improved recovery techniques that enhance efficiency. Changing operating conditions also allow for recalculation of recoverability of reserves.
Mean estimates by region are as follows:
• Alaska/Pacific: 20 billion bbl crude; 32 Tcf gas; 1 billion bbl NGL
• Colorado Plateau/Basin & Range: 2 billion bbl crude; 18 Tcf gas; 1 billion bbl NGL
• West Texas/Eastern New Mexico: 2 billion bbl crude; 52 Tcf gas; 3 billion bbl NGL
• Gulf Coast: 3 billion bbl crude; 144 Tcf gas; 4 billion bbl NGL
• Midcontinent/Eastern Region: 2 billion bbl crude; 45 Tcf gas; 1 billion bbl
