Conocophillips added about 738 million barrels to reserves in 2011
ConocoPhillips said it added about 738 million barrels of oil equivalent to its proved reserves in 2011, allowing the oil giant to more than replace oil reserves lost from production.
The Energy Department says the United States will release 30 million barrels from the Strategic Petroleum Reserve to make up for a disruption in supplies from the Middle East and North Africa.