Strategic Petroleum Reserve: Quarterly report, (January 1, 1988-March 31, 1988)

Technical Report · Sun May 15 00:00:00 EDT 1988

OSTI ID:5037616

The May 15, 1988, Strategic Petroleum Reserve Quarterly Report describes activities undertaken with respect to the development of the Reserve during the period January 1, 1988 through March 31, 1988. The introduction and summary briefly discuss program background and major activities of this quarter. Section II describes site development. Oil acquisition activities are reported in Section III. Other program topics are discussed in Section IV. Information on the budget and cost of the Reserve is contained in Section V. During the second quarter of fiscal year 1988, Strategic Petroleum Reserve storage capacity reached 580 million barrels. At Big Hill, surface construction for the remaining 9 of a total of 14 storage caverns achieved a 93 percent completion status. At Bayou Choctaw, Cavern 101 development continued on schedule. At West Hackberry, leaching operations continue on schedule toward a September 1988 completion. The total inventory of crude oil stored in the Strategic Petroleum Reserve reached 544,937,994 barrels during the quarter ending March 31, 1988. The average fill rate during the quarter was 47,140 barrels per day, and the weighted average delivered price during this quarter was $15.53 per barrel. The average fill rate for the first half of fiscal year 1988 was 60,374 barrels per day. Funds available for obligation in fiscal year 1988 include $439 million in the SPR Petroleum Account for the acquisition and transportation of crude oil and $232 million in the Strategic Petroleum Reserve Account for activities associated with storage facilities development and the operation and management of the Strategic Petroleum Reserve. 2 tabs.

• Research Organization: USDOE Assistant Secretary for Fossil Energy, Washington, DC. Office of Petroleum Reserves
• OSTI ID: 5037616
• Report Number(s): DOE/FE-0101/1; ON: DE88011220
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
024000* -- Petroleum-- Storage-- (-1989)
BUDGETS
CAPACITY
CAVITIES
COST
DELIVERY
DOCUMENT TYPES
ENERGY SOURCES
FEDERAL REGION VI
FOSSIL FUELS
FUELS
INVENTORIES
LOUISIANA
MANAGEMENT
NORTH AMERICA
PETROLEUM
PROCUREMENT
PROGRAM MANAGEMENT
PROGRESS REPORT
RESERVES
RESOURCES
SALT CAVERNS
STORAGE
STORAGE FACILITIES
STRATEGIC PETROLEUM RESERVE
TEXAS
UNDERGROUND STORAGE
USA