In its latest report on domestic reserves, U.S. Energy Information Administration said Texas still held more proved reserves of crude oil and lease condensate than any other state at the end of 2021 (up 12 percent or 1.9 billion barrels). Proved reserves of U.S. crude oil and lease condensate increased by 16 percent to 44.4 billion barrels at yearend 2021 from 38.2 billion barrels at yearend 2020. New Mexico was second with an increase of 1.4 billion barrels or 39 percent.
Proved reserves of U.S. natural gas also increased – led by Alaska, Texas and New Mexico. Texas is No. 2 behind Alaska with an increase of 34.3 tcf or 30 percent, and New Mexico is third with an increase of 10 tcf or 38 percent.