Publications

Survey of Energy Resources 2007

Crude Oil and Natural Gas Liquids Country Notes

The United States has one of the largest and oldest oil industries in the world. Although its remaining recoverable reserves are dwarfed by some of the Middle East producers, it is the third largest oil producer, after Saudi Arabia and the Russian Federation.

Proved reserves at end-2005, as published by the Energy Information Administration of the US Department of Energy in December 2006, were 21 757 million barrels of crude oil and 8 165 million barrels of NGLs. Compared with the levels at end-2002, crude reserves are 4.1% lower and those of NGLs up by 2.1%. The 920 million barrel net decrease in crude reserves was the result of 3 065 from extensions and discoveries in old and new fields, plus revisions and adjustments of 1 444, minus crude production of 5 429. The comparable figures for NGLs (also in millions of barrels) are 2 487 from extensions and discoveries, plus 101 net revisions, etc. less 2 417 production, giving a net increase of 171 in proved reserves.

Crude oil production in 2005 was 5 178 000 b/d and that of NGLs (including 'pentanes plus') was 1 717 000 b/d. The USA exported 41 000 b/d of crude oil in 2005, almost all to Canada.