IC 8634 Assessment Of U.S. Petroleum Supply With Varying Drilling Efforts

This report presents a Bureau of Mines assessment of crude oil and associated gas production and reserves that would result from different drilling efforts in the lower or contiguous 48 States during the 1972-85 period. The drilling effort was based upon five growth rate assumptions from the 1971 level. Additions to crude oil reserves were computed for nine cases resulting from the use of three equations for findings per foot drilled and three constant revision factors. The results indicate that the United States will not become self-sufficient in crude oil production by 1985 and also illustrate the lead time required to reverse the decline in oil production. Discussion is limited to three of the nine cases to provide high, intermediate, and low results. More emphasis is on the intermediate case because it is indicative of the most probable trends. The methodology and statistical data are included in the appendices.