U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2023

(Wed, 25 Jun 2025) According to its U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2023 report, crude oil and lease condensate proved reserves decreased 4% and natural gas proved reserves decreased 13% from the record highs established in 2022—the first annual decline in U.S. proved reserves since 2020.

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