AGA: US gas reserves climbed to 250 tcf at yearend 2009

Nick Snow
OGJ Washington Editor

WASHINGTON, DC, Apr. 8 -- Known US natural gas reserves likely increased for an 11th consecutive year at the end of 2009 to 250 tcf, their highest level in 35 years, the American Gas Association said on Apr. 6. Increased production from shale, tight sands, and other unconventional sources contributed to supply optimism, it added.

“Natural gas supply in this country remains bullish,” AGA Pres. David N. Parker said. “Production is also up, underpinned by the recent development of secure, domestic gas resources in deep water offshore, as well as unconventional gas in the Lower 48 states.”

AGA believes supply and production levels will hold stead for the foreseeable future “unless significant policy decision restrict access to potential resources,” he added.

The report, “Preliminary Findings Concerning 2009 Natural Gas Reserves,” identified BP America Inc. as the year’s largest US producer, representing less than 5% of the national total. It said that other leading domestic gas producers ranged from ExxonMobil Corp. to large independent producers such as Chesapeake Energy Corp., Devon Energy Corp., Anadarko Petroleum Corp., and EOG Resources Inc.

“In fact, thousands of other large, midsize, and small producers provided the bulk of domestic gas to local distribution companies last year,” Parker said.

Contact Nick Snow at nicks@pennwell.com.



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