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U.S. oil and natural gas proved reserves U.S. crude oil and lease condensate proved reserves billion barrels 50 45 40 35 30 25 20 15 10 5 0Sources: U.S. Energy Information Administration, Form EIA23L,.

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Natural gas - countries with the largest reserves 2009-2019. Russia has the largest proved natural gas reserves in the world. As of 2019, it had 38 trillion cubic meters worth of the fossil fuel, four trillion cubic meters more than ten years prior.

Proven reserves are those that claim an approximate certainty level of at least 90% of being successfully recovered. For specialists in the oil industry, proven reserves are known as P90 or 1P.

EIA estimates that as of January 1, 2019, the United States had about 475 Tcf of proved reserves and 2,392 Tcf of unproved reserves of dry natural gas.

Proven reserves are the amount of oil or natural resources contained under a piece of land with a 90% or greater probability of profitable extraction.

At the current rates of production, oil will run out in 53 years, natural gas in 54, and coal in 110.

The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

There are 303.2 billion barrels worth of oil in the country, nearly 18% of global reserves.

Assuming the same annual rate of U.S. dry natural gas production in 2019 of nearly 34 Tcf, the United States has enough dry natural gas to last about 84 years. The actual number of years the TRR will last depends on the actual amount of dry natural gas produced and on changes in natural gas TRR in future years.

At the rate of U.S. natural gas consumption in 2016 of about 27.5 Tcf per year, the United States has enough natural gas to last about 90 years. The actual number of years will depend on the amount of natural gas consumed each year, natural gas imports and exports, and additions to natural gas reserves.

Proven reserves sit at the top of the scale, at a 90-percent or above likelihood of commercial extraction. Probable reserves are those with the likelihood of recovery for between possible and proved reserves, or over 50-percent but under 90-percent.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232