Declining oil giants significant contributors to U. S. production

Journal Article · Mon Oct 04 00:00:00 EDT 1993 · Oil and Gas Journal; (United States)

OSTI ID:6101112

Phipps, S C

This article presents a statistical summary of production and reserves data for major US oil fields and shows the importance of these fields to the total US oil industry. At least four main general conclusions can be made from the results of the review: (1) major fields older than 50 years remain highly significant to current US production and reserves; (2) except for relatively unexplored prospective areas such as Alaska and California offshore, the future discovery of major US fields is statistically very unlikely; (3) the majority of presently producing major US fields will be essentially depleted--greater than 90% of present reserves produced--within the next 15--25 years; (4) in the absence of additional major field discoveries the total US oil producing rate will decline substantially during the next decade.

• OSTI ID: 6101112
• Journal Information: Oil and Gas Journal; (United States), Vol. 91:40; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
PETROLEUM
PRODUCTION
RESERVES
AGE DEPENDENCE
COMPILED DATA
FORECASTING
OIL FIELDS
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
RESOURCE DEPLETION
USA
DATA
DEVELOPED COUNTRIES
ENERGY SOURCES
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
INDUSTRY
INFORMATION
MINERAL RESOURCES
NORTH AMERICA
NUMERICAL DATA
RESOURCES
020700* - Petroleum- Economics
Industrial
& Business Aspects
020200 - Petroleum- Reserves
Geology
& Exploration
294002 - Energy Planning & Policy- Petroleum
292000 - Energy Planning & Policy- Supply
Demand & Forecasting