Strategic petroleum reserve. Quarterly report

Technical Report · Mon May 17 00:00:00 EDT 1982

OSTI ID:5142772

During the first quarter of 1982, the Department of Energy continued to expand the storage capacity for the Strategic Petroleum Reserve (SPR) and to take advantage of the favorable international oil market for the purchase of oil to fill the Reserve. The SPR is being developed in three phases and the cumulative fill capability for storage of crude oil for the SPR is expected to be 750 million barrels by 1990. As of March 31, 1982, the cumulative fill capability was 260 million barrels. Development of Phase I of the program consisting of 250 million barrels of capacity is complete and development of Phase II, consisting of 290 million barrels of capacity is continuing. During 1981, the design of Phase III commenced. Phase III will increase the SPR capacity by 210 million barrels. The Phase III drilling contract for Bryan Mound was awarded in February 1982 with drilling scheduled to start on July 15, 1982. Market conditions continued to be favorable for the purchases of oil to fill available SPR storage capacity. The SPR was filled at a rate of 202,188 barrels per day during the calendar quarter ending March 31, 1982, and the total SPR crude oil inventory at the end of this period was 248,537,469 barrels. The weighted average cost of crude oil delivered to SPR terminals from January 1, 1982 to March 31, 1982, was $35.61 per barrel.

• Research Organization: USDOE Assistant Secretary for Environmental Protection, Safety and Emergency Preparedness, Washington, DC
• OSTI ID: 5142772
• Report Number(s): DOE/EP-0046/1; ON: DE82015444
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
024000* -- Petroleum-- Storage-- (-1989)
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CAVITIES
CONSTRUCTION
COST
DRILLING
ENERGY SOURCES
FEDERAL REGION VI
FOSSIL FUELS
FUELS
INVENTORIES
LOUISIANA
MARKET
MINING
NORTH AMERICA
PETROLEUM
PIPELINES
RESERVES
RESOURCES
SALT CAVERNS
SOLUTION MINING
STORAGE
STORAGE FACILITIES
STRATEGIC PETROLEUM RESERVE
TEXAS
TRANSPORT
UNDERGROUND STORAGE
USA