Another year of stronger oil and natural gas prices increased 2018 oil and natural gas proved reserves in the United States to another all-time record level. Crude oil and lease condensate proved reserves rose by 12%, and natural gas proved reserves rose by 9% (Table 1). U.S. crude oil and lease condensate production increased by 17% (Table 5), and U.S. total natural gas production increased by 12% (Table 9). Highlights are listed below. Oil highlights Proved reserves of crude oil in the United States increased 12%, from 39.2 billion barrels at year-end 2017 to 43.8 billion barrels at year-end 2018, setting another U.S. record for crude oil proved reserves (Table 7). The previous record was set in 2017 (39.2 billion barrels). Proved reserves of lease condensate in the United States increased 14%, from 2.8 billion barrels at year-end 2017 to 3.2 billion barrels at year-end 2018 (Table 8). Adding […]