Update on U.S. Oil and Gas Proved Reserves, Highlighting the Contribution of the Williston Basin

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1 Update on U.S. Oil and Gas Proved Reserves, Highlighting the Contribution of the Williston Basin Steven G. Grape Energy Information Administration Office of Oil and Gas Reserves & Production Division Dallas, Texas

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3 2004 Energy Flow Diagram Quadrillions of BTU

4 U.S. Energy Production and Consumption

5 1 Quadrillion 1 x BTUs EQUALS 49 Million Short Tons of Coal 971 BCF of Natural Gas 172 Million Barrels of Oil 7.8 Million Pounds of Uranium Fuel in LWR* Based on 2003 fuel usage statistics. Light water reactor, open cycle system, no reprocessing of spent fuel. Approximately 286 short tons of Uranium Ore is required to refine each ton of Uranium Fuel pellets in the United States.

6 Energy Consumption by Major Fuel Type 40.6 Oil 23.1 Gas 22.4 Coal 8.2 Nuke 2.8 Wood 2.7 Hydro

7 Sources of Crude Oil Consumption (Natural gas liquids not included)

8 36% of Oil Consumed is produced Domestically 85% of Natural Gas Consumed is Domestic 100% of Coal Consumed is Domestic (the U.S. is a net exporter of coal) 5% of Uranium Fuel Consumed is Domestic 100% of Hydroelectric, Wood, Wind, and Solar (of course)

9 22.6 Coal Energy Production by Major Fuel Source Electricity only, Transportation Excluded! 19.3 Gas 11.5 Oil 8.2 Nuke 2.4 NGPL

10 U.S. Electricity Production, 2004 Conventional Hydroelectric Power 3.9% Nuclear Electric Power 11.7% Natural Gas Plant Liquids 3.5% Wind 0.2% Solar 0.1% Geothermal 0.5% Wood, Waste, Alcohol 4.0% Coal 32.2% Coal Crude Oil Natural Gas Natural Gas Plant Liquids Nuclear Electric Power Conventional Hydroelectric Power Wood, Waste, Alcohol Geothermal Solar Natural Gas 27.5% Crude Oil 16.4% Wind

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12 Proved Reserves Subset of Discovered Resources

13 U.S. Crude Oil Proved Reserves and Production, Alaskan North Slope Oil In 1970 Reserves Peak 4.5 Production Peak? Oil Reserves Billion Barrels WWII Ends Second Production Peak? Annual Production Billion Barrels 10.0 U.S. Reserves adjusted Lower 48 Reserves 1998 Price Drop U.S. Production Lower 48 Production

14 Lower 48 Crude Oil Reserves & Production 40 Peak Reserves 1959 Peak Production Crude Oil Reserves Billion Barrels Lower 48 Reserves Lower 48 Production Crude Oil Annual Production Billion Barrels

15 U.S. Natural Gas Proved Reserves and Production, Peak World War II ends Alaska North Slope Gas In Reserve Decline Flattens (High Gas Prices & Drilling) 25 Proved Reserves - Trillion Cubic Feet Growth of Interstate Pipeline System and Gas Markets Production Increasing Reserves Increase 9 of last 10 years Production - Trillion Cubic Feet Most of Alaska North Slope Gas Out (Poor Economics) 50 5 Reserves Production

16 Lower 48 Dry Gas Reserves & Production, Lower 48 Dry Gas Reserves Trillion Cubic Feet Lower 48 Dry Gas Production Trillion Cubic Feet Lower 48 Reserves Lower 48 Prod (Dry)

17 Oil Proved Ultimate Recovery Cumulative Production Proved Reserves Ultimate Recovery Billions of Barrels

18 Gas Proved Ultimate Recovery 1,400 1,200 Cumulative Production Proved Reserves Ultimate Recovery 1,000 Trillions of Cubic Feet

19 Data From The Recent Decade

20 U.S. Crude Oil Proved Reserves 25 U.S. Total Crude Oil, Billions of Barrels Alaska Lower 48 Onshore Lower 48 Offshore

21 Crude Oil Proved Reserves

22 Changes in Crude Oil Proved Reserves

23 Components of Crude Oil Proved Reserves 4 3 Extensions New Fields New Reservoirs Production Net Revisions & Adjustments Net Acquisitions & Sales Net Reserves Changes 4 3 Crude Oil, Billion Barrels

24 Replacement of Crude Oil Production 160% 140% 137% Percentage of U.S. Crude Oil Production Replaced 120% 100% 80% 60% 40% 78% 95% 85% 125% 24% 121% 115% 112% 58% 71% 20% 0%

25 U.S. Dry Natural Gas Proved Reserves U.S. Total 180 Dry Natural Gas, Trillion Cubic Feet Lower 48 Onshore Lower 48 Offshore Alaska

26 Dry Gas Proved Reserves

27 Changes in Dry Gas Proved Reserves

28 Components of Dry Natural Gas Proved Reserves Extensions New Fields New Reservoirs Production Net Revisions & Adjustments Net Acquisitions & Sales Net Reserves Changes Dry Natural Gas, Trillion Cubic Feet

29 Replacement of Dry Natural Gas Production 160% 152% 140% 131% Percentage of U.S. Gas Production Replaced 120% 100% 80% 60% 40% 108% 107% 107% 104% 83% 118% 118% 118% 111% 20% 0%

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31 Largest Basin in Western U.S.

32 Map of Producing Fields of the Williston Basin (MT, ND Border Area)

33 Crude Oil Proved Reserves in the Williston Basin

34 Components of Crude Oil Reserves Changes in Williston Basin

35 State Percentages of U.S. Oil Production

36 U.S. Oil Production by State,

37 U.S. Oil Production by State, (Zoomed In)

38 Montana and North Dakota Oil Production,

39 Percentages of U.S. Gas Production

40 U.S. Wet Gas Production by State,

41 U.S. Wet Gas Production by State, (Zoomed In)

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45 Map of Williston Basin Fields with Bakken Listed as a Reservoir Montana Side Data on 29 Fields 33 Locations North Dakota Side Data on 41 Fields 81 Locations

46 Oil Reserves Data from 70 Identified Fields with Bakken listed as a Reservoir

47 Current Top Producing Field in the Bakken Formation ELM COULEE FIELD

48 Almost Half of Montana s 2005 Oil Production

49 Top 100 U.S. Oil Fields ELM COULEE FIELD Rocketing Up the Chart! #48 in 2004 Up into the Top 20 in 2005!

50 For Further Information, Visit Us Online: Or You Can Telephone Our National Energy Information Center: Phone: FAX: