Petroleum industry in Illinois, 1973

Journal Article · Wed Jan 01 04:00:00 EST 1975 · Ill., State Geol. Surv., Ill. Pet.; (United States)

OSTI ID:5098354

van den Berg, J; Lawry, T F

Illinois produced 30,668,578 bbl of crude oil in 1973, a decline of 12.1% from 1972. There was a series of price increases in 1973; by the end of the year the average price for old oil was a little over $5 per bbl, and for new, released, and stripper oil it was about $10. In 1973, the estimated average price for all crude oil produced in Illinois was $4.32 per bbl, making the value of crude produced during the year $132,488,257. Five hundred forty-two new holes testing for oil and gas were drilled. These tests resulted in 235 oil wells, 12 gas wells, and 295 dry holes. Of the 542 new tests, 175, or 32.3%, were wildcats (half a mile or more from production), of which 18 were completed as producers, a success ratio of 10.3%. Fifty-four new holes were drilled as service wells, and 120 old holes, most of them former producers, were converted to service wells. In connection with underground storage of natural gas, 213 well completions were reported in 1973. Three oil fields, 15 extensions to fields, and 11 new pay zones in existing fields were discovered in 1973. None made significant additions to reserves. Sixteen new waterfloods were added and 26 waterfloods were abandoned during 1973. Area subjected to fluid injection was increased by 3,020 acres. This includes 2,006 acres in newly reported projects and 1,014 acres in extensions to older waterfloods.

• OSTI ID: 5098354
• Journal Information: Ill., State Geol. Surv., Ill. Pet.; (United States), Journal Name: Ill., State Geol. Surv., Ill. Pet.; (United States) Vol. 103; ISSN ILGPA
• Country of Publication: United States
• Language: English

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