Oil and gas developments in Pennsylvania in 1981. Progress report 195

Technical Report · Fri Jan 01 04:00:00 EST 1982

OSTI ID:5634669

Harper, J A ^[1]

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1. comp.

Oil production totaled 3,729,214 barrels in 1981, a 27 percent increase over 1980 production. Oil reserves increased 1 percent from 50,559,000 barrels in 1980 to 50,946,000 barrels in 1981. Gas production increased 26 percent from 97,439 million cubic feet in 1980 to 122,454 million cubic feet in 1981. Gas reserves, including stored recoverable gas, increased 7 percent from 2,316,119 million cubic feet in 1980 to 2,481,168 million cubic feet in 1981. Stored recoverable gas also increased 7 percent, to 596,518 million cubic feet. The price for all crude oil and oil products produced in the United States was deregulated by the President early in 1981. The price of Penn Grade Crude oil was $38.00 per barrel at the beginning of 1981, but dropped off to $35.00 per barrel on June 17. The price remained stable for the remainder of the year. Gas prices were subject to Natural Gas Policy Act price ceilings. The well-head price of one thousand cubic feet of natural gas ranged from a low of $0.24 under old contracts to $5.10 for high-cost gas produced from tight formations (the Lower Silurian Medina Group). The total number of wells reported drilled in 1981 was 3554, an increase of 76 percent or 1534 wells over 1980. Exploratory drilling in 1981 increased 207 percent (273 wells) over 1980, and the success rate for these wells was 94 percent. Seismic exploration activity increased 21 percent, from 45.25 crew-months in 1980 to 54.75 crew-months in 1981. 32 figures.

• Research Organization: Pennsylvania Dept. of Environmental Resources, Harrisburg (USA). Bureau of Topographic and Geologic Survey
• OSTI ID: 5634669
• Report Number(s): NP-4900214; ON: DE84900214
• Country of Publication: United States
• Language: English

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