Natural gas reserves in the United States fell by 2 percent in 2019 due to low prices, the Energy Information Administration said in an update on the country’s oil and gas reserves. Henry Hub prices for natural gas in 2019 fell by more than 21 percent from 2018, the authority noted, adding that despite the modest decline, the United States had enough discoveries and production extensions of gas to replace 2019 production going forward. In oil, reserves remained largely unchanged in 2019 despite a similar price decline, the EIA also said. In fact, proven crude oil reserves rose in that year by 367 million barrels. A decline in lease condensate reserves, however, made for a net decline in crude oil plus condensate reserves. Perhaps surprisingly, it wasn’t the shale oil plays that accounted for the biggest increase in oil reserves—it was Alaska. New Mexico, which houses part of the […]