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Technology Pushes Reserves, Profits Higher

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By Velda Addison, Hart Energy
June 24, 2014

Independents equipped with the technology and techniques needed to tap U.S. plays led the way toward a 9% increase in oil and gas reserves in 2013 amid slightly lower capital spending and strong commodity prices.

The findings were released June 24 in the 2014 U.S. Oil & Gas Reserves Study by Ernst & Young LLP (EY). The study examined exploration and production (E&P) spending and performance data for the largest 50 companies based on end-of-year reserve estimates.

Oil reserves increased to 25.4 billion barrels (Bbbl) by year-end 2013, up 2.1 ...

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