The U. S. Energy Information Administration released its U.S. Crude Oil and Natural Gas Proved Reserves 2013 report recently released, showing increases in crude oil and natural gas reserves year-over-year.
Local energy businesses say they are already reaping the benefits of increased activity throughout the Appalachian basin.
For the first time since 1975, the nation’s crude oil and lease condensate exceeded 36 billion barrels and an increase in natural gas set a new record for natural gas reserves at 354 trillion cubic feet, according to the report.
West Virginia and Pennsylvania account for 70 percent of the increase in proved natural gas reserves, according to the report.
Kyle Mork, chief operating officer for Energy Corporation of America, said many people thought Appalachia had experienced its best days in the oil and gas industry.
The Marcellus has changed how they approach business, Mork said.