Strategic Petroleum Reserve quarterly report
This quarterly report describes activities undertaken with respect to the development of the Reserve during the period April 1, 1987 through June 30, 1987. The introduction and summary briefly discuss program background and major activities of this quarter. Section II describes site development. Oil acquisition activities are reported in Section III. Other program topics are discussed in Section IV. Information on the budget and cost of the Reserve is contained in Section V. During the second quarter of 1987, Strategic Petroleum Reserve storage capacity reached 570 million barrels. At Bryan Mound, final corrective leaching was completed in Cavern 5 whose conversion from sweet to sour crude oil storage is proceeding on schedule. At West Hackberry, leaching was completed for Cavern 115 and proceeded in the four remaining caverns still under development. At the Bayou Choctaw site, Cavern 17 oil fill was initiated; this 10-million-barrel cavern currently contains over five million barrels of oil. At Big Hill, construction has progressed to the point that attainment of leaching capability by the end of September is on schedule. The total inventory of crude oil stored in the Strategic Petroleum Reserve reached 527,186,515 barrels during the quarter ending June 30, 1987. The average fill rate during the quarter was 79,119 barrels per day, and the weighted average delivered price during this quarter was $19.17 per barrel. Funds available for obligation in fiscal year 1987 include $526 million in the SPR Petroleum Account for the acquisition and transportation of crude oil and $262 million in the Strategic Petroleum Reserve Account for activities associated with storage facilities development and the operation and management of the Strategic Petroleum Reserve. Approximately $23 million of Strategic Petroleum Reserve Account funds will be carried over to reduce new budget authority required for the account in fiscal year 1988. 1 fig., 2 tabs.
- Research Organization:
- USDOE Assistant Secretary for Fossil Energy, Washington, DC. Office of Petroleum Reserves
- OSTI ID:
- 6252462
- Report Number(s):
- DOE/FE-0084-2; ON: DE88000008
- Country of Publication:
- United States
- Language:
- English
Similar Records
Strategic Petroleum Reserve: Quarterly report
Strategic Petroleum Reserve: Quarterly report, (January 1, 1988-March 31, 1988)
Related Subjects
024000* -- Petroleum-- Storage-- (-1989)
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
BUDGETS
CAVITIES
COST
DISSOLUTION
DRAWDOWN
ENERGY SOURCES
FEDERAL REGION VI
FOSSIL FUELS
FUELS
INVENTORIES
LEACHING
LOUISIANA
MANAGEMENT
NORTH AMERICA
PETROLEUM
PROCUREMENT
PROGRAM MANAGEMENT
RESERVES
RESOURCES
SALT CAVERNS
SEPARATION PROCESSES
STORAGE
STORAGE FACILITIES
STRATEGIC PETROLEUM RESERVE
TEXAS
UNDERGROUND STORAGE
USA