Lower natural gas prices drove down U.S. proved reserves in 2012, despite notable gains in the Marcellus and Eagle Ford shale gas plays. The decline stopped a 14-year trend of consecutive increases in natural gas reserves, according to newly published estimates in EIA’s U.S. Crude Oil and Natural Gas Proved Reserves 2012 . Proved reserves are volumes of natural gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Natural gas proved reserves, estimated as wet natural gas that includes natural gas plant liquids, decreased 7% in 2012 to 323 trillion cubic feet (Tcf), as operators revised the proved reserves of their existing natural gas fields downward in response to lower natural gas prices (the natural gas spot price at the Henry Hub dropped below $2.00 per million British thermal units (MMBtu) in April […]