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News Releases 2012
Homes With Natural Gas Appliances Save An Average of $518 Annually
President Touts Benefits of Natural Gas
Natural Gas is Key to Our Nation’s Economic Future
Natural Gas Council Statement on State of the Union Speech
AGA Report Shows U.S. Has Largest Natural Gas Storage in the World
Energy Groups Urge EPA and DOT To Provide Level Playing Field For Natural Gas Vehicles Under New Fuel Economy and Tailpipe Emission Standards
AGA Disappointed With LIHEAP Funding in President’s Budget
AGA Releases 2012 Playbook
Natural Gas Utilities Call For Full Funding of LIHEAP
AGA Praises FERC for Elevating Discussion On Gas-Electric Integration Issues
AGA Welcomes George Lowe as New Vice President of Federal Affairs
AGA Report Details Responsible Natural Gas Development
Executive Order to Speed-up Energy Infrastructure Permitting Process Will Help Natural Gas Customers
Natural Gas Council Asks FERC to Lead Effort Examining Gas-Electric Coordination and Market Rules Affecting Reliability
Calling 811 Before You Dig Can Save Lives
AGA Encourages FERC Dialogue on Gas-Electric Issues
U.S. Natural Gas Reserves At Record Levels
Limited Data on Methane a Fundamental Challenge
AGA Encouraged by Obama’s Executive Order
AGA to Host LNG 17
Natural Gas is the Best Heating Value
Natural Gas Utilities Reward Safety
Utilities Take Action to Further Improve the Safety of Natural Gas Distribution Systems
Customers See Benefits of Natural Gas Abundance
United States Leads Worldwide Conversation About Responsible Resource Development
Natural Gas Utilities: Building and Enhancing an Advanced Energy Delivery System
ARPA-E Program Will Spur Natural Gas Vehicle Innovation
McCurdy: Developing the market for natural gas vehicles enhances both our energy security and our economy
NPC Study Emphasizes Significant Opportunities
LNG 17—Open for Registration
Building A 21st Century Infrastructure In Communities Across the Nation
AGA Response to Romney Energy Plan
AGA Applauds White House Fuel Efficiency Standards
White House Executive Order Will Increase Competitiveness of U.S. Manufacturing
Obama Outlines Future with Natural Gas
Natural Gas Fueling Infrastructure Models Vary
AGA Says Customers will Benefit from Low Prices Again this Winter
Stephen Ewing Receives AGA’s Distinguished Service Award
Questar Corp. Chairman, President & CEO Ronald Jibson Elected 2013 AGA Chairman
AGA Report Envisions a Decade of Natural Gas Market Stability
Natural Gas Utilities Activate Mutual Assistance Program In Response to Hurricane Sandy
AGA Congratulates President Obama, Encourages Smart Energy Policies
AGA Commends NARUC For Continued Recognition Of The Benefits Of Natural Gas
Utilities Work Towards Increased Safety For Natural Gas Infrastructure
Powerful Step To Help Reduce Barriers For Natural Gas Vehicles
Delivering the Promises of Natural Gas in 2013 and Beyond
DOE Report Affirms Role of Natural Gas as a Foundation Fuel
Videos
AGA Applauds Policy Guidance on Cyber Threat Information Sharing and Antitrust
Utilities Work With Congress to Continue Safe Delivery of Natural Gas
Thomas E. Skains, Piedmont Natural Gas, Receives AGA’s Distinguished Service Award
AGA

 4/4/2012 

AGA Contacts:
Jennifer O’Shea, 202-824-7023
Jake Rubin, 202-824-7027

 U.S. Natural Gas Reserves At Record Levels   

 
   

Washington, D.C. – America’s abundance of natural gas is supported once more, as a likely contributor to continued price stability, according to a new report released by the American Gas Association (AGA). AGA released its Preliminary Findings Concerning 2011 Natural Gas Reserves which estimates that U.S. natural gas producers found and replaced more gas than was consumed in 2011, thus reserves have continued to grow. 

“We estimate that the national inventory of gas reserves is approximately 300 trillion cubic feet,” said Dave McCurdy, president and CEO of AGA. “This ‘on-the-shelf’ inventory is the foundation along with growing national resource estimates that may point to as much as a100 year natural  gas supply in America.  This abundance is helping to reduce prices and increase stability for our customers and also ensuring that that natural gas is America’s domestic, clean foundation fuel for now and into the future.”

Natural gas reserves, as measured in the AGA report, are those quantities of natural gas estimated to exist as the result of drilling and completion of existing wells.  Natural gas resources, assessed by groups such as the Potential Gas Committee, represent a broader definition of all natural gas in-place that may be considered as future supply, including gas yet to be discovered. When periodic assessments of undiscovered resources are combined with proved reserves a vision of future supply of natural gas emerges. Today, the combination of reserves information and resource assessments places that future supply at 2,100 Tcf or greater.  That represents about 100 years of supply at current gas production rates, which are 22-23 Tcf per year.

The previous domestic reserves record of 293 Tcf was recorded in1967.  During 2010 and now again for 2011, the American Gas Association estimates that more than 100 percent of total domestic annual production was replaced with new natural gas reserve additions and revisions of previous estimates. AGA estimates that proved U.S. reserves may be as high as 300 Tcf, today, a new reserves record.

New discoveries tied to investment in onshore drilling opportunities in the lower-48 states, specifically shale gas, have been a significant factor in recent increases in reserves. Sustaining the national reserves inventory is a prerequisite for sustaining or growing natural gas production, which is necessary to support future long-term market demand and currently provides more than 90 percent of the natural gas consumed in our nation. The United States currently consumes about 24 Tcf of natural gas per year.

“AGA and its members believe that our domestic natural gas resource base must be developed responsibly. We are committed to the continued safe and reliable extraction, transport and delivery of natural gas to consumers,” said McCurdy.

The U.S. Energy Information Agency did not publish reserves volumes for oil, natural gas and natural gas liquids in 2011. However, for the 30 large domestic reserves holders analyzed in this report and in the previous 2010 AGA Preliminary Reserves report (dated March 29, 2011) company additions to reserves far exceeded production, indicating strong reserves replacement for the nation as a whole. During the past two years the 30 companies in the AGA sample have added more than 40 Tcf of reserves additions, while producing about 22 Tcf – thus their reserves inventory has grown.

You can view the report here.

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The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 71 million residential, commercial and industrial natural gas customers in the U.S., of which 94 percent — over 68 million customers — receive their gas from AGA members. Today, natural gas meets almost one-fourth of the United States' energy needs.

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