US Natural Gas, Oil reserves soar


U.S. natural gas reserves increased by the most in history last year, and crude reserves also rose, as companies drilled frantically into shale rock formations with new technology, the Energy Information Administration said in an annual report on Tuesday.

U.S. net proved natural gas reserves rose 11 percent, or 28.8 trillion cubic feet (tcf), in 2009 to total 284 tcf, underscoring the dramatic impact that new gas pumped from shale rock formations is having on world energy supply.

Louisiana, whose statewide reserves grew quickest, saw its economically viable gas reserves surge by 77 percent, or 9.2 tcf, led by developments in its Haynesville Shale.


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