Surviving and entrant publicly-traded independents and the nonintegrated majors added, on balance, to their U.S. reserve base through purchases of reserves. Integrated majors, nonsurviving publicly-traded independents, and privately-held independents were net sellers of proved reserves.
Note: BOE=barrels of oil equivalent. Natural gas converted at 0.178 barrels per thousand cubic feet. Sources: Majors: Energy Information Administration, Form EIA-28 (“Financial Reporting System”). Publicly-traded independents: Company filings of Securities and Exchange Commission Form 10-K. Privately-held independents: U.S. total oil and gas production (adjusted for royalty interests) less majors and publicly-traded independents.