Reserves decline again, but at slower rates

Journal Article · Sun Feb 15 04:00:00 EST 1981 · World Oil; (United States)

OSTI ID:5768058

US proved hydrocarbon reserves continued to decline in 1979, but more slowly than in recent years. Crude-oil reserves fell just 2.7% to 27 billion bbl; natural gas reserves also declined only 2.7% to 194.9 trillion CF. These modest rates - low when compared with earlier drops of 4-6%/yr - were attributable to increased drilling activity, particularly infill drilling. Natural gas reserves additions due to revisions totaled 2.9 TCF; those added by extensions to existing fields amounted to 7.1 TCF. Gas reserves added in all categories reached almost 14.3 TCF, the highest addition since the Prudhoe Bay reserves were booked in 1970. Louisiana continued to lead gas production, with 7.2 TCF for 1979. Several states showed an increase in gas reserves: Wyoming, up 8.6%; Pennsylvania, 7.5%; Colorado, 3.9%; Kansas, 1.9%; New Mexico, 1.5%; and Alaska, 1%. Despite rising drilling rates, however, hydrocarbon reserves will most likely continue to decline; the poor response of reserve levels to drilling rates probably stems from a lack of significant geologic prospects and from the government's reluctance to open new areas to exploration.

• OSTI ID: 5768058
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 192; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020100 -- Petroleum-- Reserves-- (-1989)
03 NATURAL GAS
030100* -- Natural Gas-- Reserves-- (-1989)
DRILLING
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
NATURAL GAS
NORTH AMERICA
PETROLEUM
RESERVES
RESOURCES
USA
WELL DRILLING