New Drilling Technologies Add Fuel to Flaming Oil & Gas Industry – Innocent, Inc. (INCT) Has Taken Notice
The year 2012 marked the fourth consecutive year of increased U.S. proved reserves of crude oil and lease condensate, with proved reserves of oil exceeding 33.4 billion barrels for the first time since 1976. According to the latest figures from the Energy Information Administration (EIA), oil and gas exploration and production companies operating in the United States added 4.5 billion barrels of crude oil and lease condensate proved reserves in 2012, an increase of 15.4% from 2011 and the largest annual increase since 1970 when the U.S. increased its proved oil reserves by 10.3 billion barrels of Alaskan crude. New…