Strategic Petroleum Reserve. Quarterly report

Technical Report · Tue Aug 16 00:00:00 EDT 1983

OSTI ID:5763764

During the third quarter of FY 1983, the Department of Energy continued to expand the storage capacity of the Strategic Petroleum Reserve (SPR) and to fill available storage capacity in the Reserve through term purchases of crude oil made in FY 1982 supplemented by spot purchases. The SPR is being developed in three phases. Development of Phase I of the program consists of approximately 260 million barrels of storage capacity. Development of Phase II storage of 290 million barrels continues on schedule with the solution mining of new storage caverns at Bryan Mound, West Hackberry, and Bayou Choctaw. Phase III development is underway with major drilling and construction in progress at the Big Hill and Bryan Mound sites. Declarations-of-Taking of all remaining Big Hill property, with the exception of that required for the crude oil pipeline, was forwarded to the Department of Justice in June. Phase III drilling operations were completed at Bryan Mound in April and commenced at Big Hill in May. The SPR was filled at a rate of 226,966 barrels per day during the calendar quarter ending June 30, 1983, and the total SPR crude oil inventory at the end of this period was 332,484,027 barrels. The weighted average price of crude oil delivered to SPR terminals from April 1, 1982, through June 30, 1983, was $29.85 per barrel. Market conditions continue to be favorable for the purchase of oil to fill available SPR storage capacity. The projected fill rate for the calendar quarter July 1, 1983, to September 30, 1983, is approximately 320,000 barrels per day which will assure an average fill rate for FY 1983 of 220,000 barrels per day. The SPR Petroleum Account became off-budget in FY 1982 pursuant to the Omnibus Budget Reconciliation Act of 1981. Funds for storage facilities development and operations, planning, and program direction remain on-budget.

• Research Organization: USDOE Assistant Secretary for Environmental Protection, Safety and Emergency Preparedness, Washington, DC
• OSTI ID: 5763764
• Report Number(s): DOE/EP-0046/6; ON: DE83017901
• Country of Publication: United States
• Language: English

Related Subjects

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