Proven crude oil and lease-condensate reserves in the United States increased 9.3 percent to 36.5 billion barrels in 2013, up from 33.4 billion barrels in 2012.
That was the fifth year in a row of increases, with reserves exceeding 36 billion barrels for the first time since 1975.
Collectively, North Dakota and Texas accounted for 90 percent of the overall net increase in U.S. proved oil reserves in 2013.
Tight oil plays accounted for 28 percent of all U.S. crude oil and lease condensate proved reserves, EIA said, noting the Bakken/Three Forks play covering parts of North Dakota, Montana, and South Dakota regained its position as the largest tight oil play in the nation.Regular readers are aware that state and federal agencies are very, very conservative in their Bakken/Three Forks reserves estimates.
One just wonders when XOM will simply buy the whole thing and call it a day.