Oil and Gas Reserves on the Rise

The subject of oil and gas research, and reserves in particular, is a topic that is of continual interest in the United States as well as around the world. In August, the Energy Information Administration announced that natural gas and oil proven reserves have increased by the largest percentage in at least 30 years. Proven reserves of crude oil jumped by 13%, while proven reserves of natural gas increased by 12%. These increases mark the highest recorded by the Energy Information Administration since estimates were first recorded in 1977. 

 

What is responsible for such higher reserve numbers? Improved technology, increased leases for drilling, and new discoveries can all increase natural gas and oil reserve numbers. One of the best ways to understand and evaluate potential oil and gas reserves is with core samples for research. Continually evolving technology makes it possible for oil and gas research firms to better understand potential reserves, a topic that grows increasingly important as the demand for energy solutions continues to rise.