Higher crude prices build drive for new oil in U. S

Journal Article · Mon Sep 17 04:00:00 EDT 1973 · Oil Gas J.; (United States)

OSTI ID:6816663

McNabb, D; Bleakley, W B

Crude oil price increases in the U.S. this year translate to at least $7.6 million/day more for producers of ''old'' oil as defined in the Cost of Living Council's Phase 4 guide lines. Most companies expect an upturn in exploratory effort as a way to profitably spend the new income. Areas that have not appeared promising before now take on a new look in the face of increased crude prices. The fastest way operators can benefit is to increase production from old wells. Many are going to start there. One operator anticipates a shortage in all steel products, and tubular goods specifically, if there is an upturn in the producing business. Increase for new oil in $ per bbl are in the range of $1.10 to $1.65 per bbl. Tabular data provide information on 1973 U.S. crude price changes and volumes affected.

• OSTI ID: 6816663
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 71:38; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200 -- Petroleum-- Reserves
Geology
& Exploration
020300 -- Petroleum-- Drilling & Production
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
ENERGY SOURCES
ENHANCED RECOVERY
EXPLORATION
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
MINERAL RESOURCES
OIL WELLS
PETROLEUM
PETROLEUM DEPOSITS
PRICES
PRODUCTION
RECOVERY
RESOURCES
STIMULATION
WELL STIMULATION
WELLS