IC 8408 Impact Of Petroleum Development In The Gulf Of Mexico

Bureau of Mines investigated the progressive impact that petroleum (crude oil and condensate) operations in the Gulf of Mexico have had on onshore operations and the expected effect of increasing activities in this area on future petroleum supplies from domestic sources. The data analyzed include capital expenditures, number of wells drilled, success ratio for exploratory wells, daily production per completion, annual producing rates, and oil reserves. The report compares offshore and onshore data and ascertains trends in petroleum industry operations. Observed data and trends indicate that in the near future Gulf of Mexico development and production will continue to increase relative to total U.S. petroleum activity. By 1975 annual oil and condensate production from the Gulf of Mexico is expected to be in the range of 750 million bbl to 1,150 million bbl, and account for approximately 20 to 30 pct of the estimated total domestic production.