Petroleum industry in Illinois, 1972

Journal Article · Mon Jan 01 04:00:00 EST 1973 · Ill., State Geol. Surv., Ill. Pet.; (United States)

OSTI ID:6752139

van den Berg, J; Lawry, T F

Illinois produced 34,874,045 bb. of crude oil in 1972, a decline of 10.8% from 1971. The price of crude oil in 1972 was based on a gravity scale. The estimated average price in 1972 was $3.47 per bbl, the same as in 1971, making a value of $121,012,936 for crude oil produced in Illinois during the year. Five hundred seventy-four new holes testing for oil and gas were drilled in 1972, resulting in 242 oil wells, 15 gas wells, and 317 dry holes. One hundred thirty-nine, or 24.2%, were wildcats, of which 16 were completed as producers, a success ratio of 11.5%. Forty-nine new holes were drilled as service wells, and 164 old wells, most of them former oil wells, were converted to service wells. In connection with underground storage of natural gas, 361 wells were completed in 1972; these include 135 new wells and 47 well conversions in existing storage projects, and 179 structure tests in search of additional storage structures. In connection with LPG storage, 4 structure tests were reported. Three oil fields, 15 extensions to fields, and 11 new pay zones in existing fields were discovered. None added significantly to reserves. Estimated crude oil reserves declined from 217.0 million bbl at the end of 1971 to 196.9 million bbl at the end of 1972. Forty-three new waterflood projects were added in 1972, and 37 waterfloods were abandoned.

• OSTI ID: 6752139
• Journal Information: Ill., State Geol. Surv., Ill. Pet.; (United States), Journal Name: Ill., State Geol. Surv., Ill. Pet.; (United States) Vol. 100; ISSN ILGPA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020000* -- Petroleum
03 NATURAL GAS
035000 -- Natural Gas-- Storage-- (1989-)
COST
DRILLING
ENERGY SOURCES
FEDERAL REGION V
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
ILLINOIS
INDUSTRY
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NORTH AMERICA
PETROLEUM INDUSTRY
RESERVES
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STORAGE
UNDERGROUND STORAGE
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WELL DRILLING