15 U.S. States With the Most Oil Reserves

Editor's Note: This story originally appeared on Construction Coverage.

Like many sectors of the economy, the energy industry has faced new challenges as a result of the COVID-19 pandemic.

Shifts in demand, production capacity, and distribution networks related to the coronavirus that causes COVID-19 have led to imbalances in supply and demand. Businesses and consumers who rely on petroleum and its byproducts are now confronting shortages in supply — and seeing higher prices as a result.

While the current conditions are unique and likely temporary, concerns about oil shortages are nothing new. Since before the energy crisis of the 1970s, experts have warned of “peak oil” — the point at which oil production from available reserves reaches maximum capacity and begins to diminish.

But despite predictions that oil production is poised for decline, advances in geological understanding and technology like horizontal drilling and fracking have actually expanded production in recent years.

Some states have seen greater effects from the recent boom in oil production than others. Researchers at Construction Coverage analyzed data from the U.S. Energy Information Administration to determine the states that had the most crude oil proved reserves. For reference, the five-year change in proved reserves was calculated for each state. Researchers also included the number of operating refineries in each state as a point of reference.

Here are the states with the most oil reserves.

15. Michigan

• Crude oil proved reserves (million barrels): 48
• 5-year change in proved reserves (percent): -9.4%
• 5-year change in proved reserves (million barrels): -5
• Number of operating refineries: 1

14. Ohio

• Crude oil proved reserves (million barrels): 88
• 5-year change in proved reserves (percent): +12.8%
• 5-year change in proved reserves (million barrels): +10
• Number of operating refineries: 4

13. Mississippi

• Crude oil proved reserves (million barrels): 114
• 5-year change in proved reserves (percent): -50.4%
• 5-year change in proved reserves (million barrels): -116
• Number of operating refineries: 2

12. Utah

• Crude oil proved reserves (million barrels): 275
• 5-year change in proved reserves (percent): -50.5%
• 5-year change in proved reserves (million barrels): -280
• Number of operating refineries: 5

11. Montana

• Crude oil proved reserves (million barrels): 298
• 5-year change in proved reserves (percent): -32.9%
• 5-year change in proved reserves (million barrels): -146
• Number of operating refineries: 4

10. Kansas

• Crude oil proved reserves (million barrels): 313
• 5-year change in proved reserves (percent): -24.4%
• 5-year change in proved reserves (million barrels): -101
• Number of operating refineries: 3

9. Louisiana

• Crude oil proved reserves (million barrels): 389
• 5-year change in proved reserves (percent): -27.2%
• 5-year change in proved reserves (million barrels): -145
• Number of operating refineries: 14

8. Wyoming

• Crude oil proved reserves (million barrels): 1,013
• 5-year change in proved reserves (percent): +6.3%
• 5-year change in proved reserves (million barrels): +60
• Number of operating refineries: 4

7. Colorado

• Crude oil proved reserves (million barrels): 1,414
• 5-year change in proved reserves (percent): +17.8%
• 5-year change in proved reserves (million barrels): +214
• Number of operating refineries: 2

6. Oklahoma

• Crude oil proved reserves (million barrels): 2,047
• 5-year change in proved reserves (percent): +64.9%
• 5-year change in proved reserves (million barrels): +806
• Number of operating refineries: 5

5. California

• Crude oil proved reserves (million barrels): 2,213
• 5-year change in proved reserves (percent): -22.5%
• 5-year change in proved reserves (million barrels): -641
• Number of operating refineries: 14

4. Alaska

• Crude oil proved reserves (million barrels): 2,680
• 5-year change in proved reserves (percent): -6.1%
• 5-year change in proved reserves (million barrels): -175
• Number of operating refineries: 5

3. New Mexico

• Crude oil proved reserves (million barrels): 3,456
• 5-year change in proved reserves (percent): +134.1%
• 5-year change in proved reserves (million barrels): +1,980
• Number of operating refineries: 1

2. North Dakota

• Crude oil proved reserves (million barrels): 5,897
• 5-year change in proved reserves (percent): -2.4%
• 5-year change in proved reserves (million barrels): -146
• Number of operating refineries: 1

1. Texas

• Crude oil proved reserves (million barrels): 18,622
• 5-year change in proved reserves (percent): +51.7%
• 5-year change in proved reserves (million barrels): +6,350
• Number of operating refineries: 30

Methodology

Researchers analyzed data from the U.S. Energy Information Administration to determine the states that had the most crude oil proved reserves (as of 2019).

For additional context, the five-year change in proved reserves, between 2014 and 2019, was calculated for each state. Researchers also extracted the number of operating refineries (as of 2021) in each state as a point of reference. Only states with at least 1 million barrels were included in the analysis.