Technically recoverable oil and natural gas reserves in the U.S. have increased by 35% compared with figures in 2011, according to a report from the Energy Information Administration. Technological breakthroughs in drilling have contributed to that increase, the report stated. "The use of horizontal drilling in conjunction with hydraulic fracturing has greatly expanded the ability of producers to profitably produce oil and natural gas from low permeability geologic formations, particularly shale formations," the agency said.

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