Breitling Oil and Gas Morning Podcast #131 August 14th, 2012

Horizontal drilling and hydraulic fracturing in tight shale plays helped US oil and gas reserves grow at a record pace, the US Energy Information Administration said this week

It was the biggest single-year increase since EIA began publishing proved reserves estimates in 1977

Estimated domestic crude and condensate proved reserves climbed by 12.8% and natural gas proved reserves rose by 11.9% during the same period.  The increasing ratio of oil-to-gas prices led US producers to focus on liquids-rich areas in since 2010 while natural gas prices plummeted to record lows.

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