Because AGA represents member utilities that deliver natural gas to 169 million Americans, we have a vested interest in the country’s supply picture. So we were pleased when our resident supply expert, Chris McGill, told us that in 2009 natural gas supply remained “bullish,” and is likely to remain so for the foreseeable future. This trend is a result of the influences of unconventional resources such as natural gas from shale and tight sands.
Based on numbers reported to the SEC, in 2009 it appears the “known reserves” of natural gas in the United States increased for the eleventh straight year, now approaching 250 trillion cubic feet– the highest level in more than 35 years. This record number is good news for natural gas customers, signifying that our country can continue to rely on natural gas as a staple of its energy mix.
Interestingly, BP, the largest U.S. producer of natural gas in 2009, produced less than five percent of the national total for the year – meaning the natural gas production industry remains competitive. Other large producers and reserves holders include household names such as ExxonMobil, yet, significant volumes of gas are produced by others such as Chesapeake Energy, Devon, Anadarko and EOG Resources. In fact, thousands of other large, mid-size and small producers provided the bulk of domestic natural gas to local distribution companies last year.
For a breakdown of the numbers and further analysis, take a look at the report.