Proven U.S. natural gas reserves dropped dramatically last year
because Arco dropped Northern Alaska natural gas from its proven
reserves, according to Salomon Brothers' annual survey.
The 30 energy companies surveyed in the study replaced only 78
percent of their natural gas production and 57 percent of their crude
oil production, before revisions and purchases.
Worldwide reserves fell from 74.1 billion barrels of oil
equivalent in 1978 to 67 billion barrels of oil equivalent by
December 1985. This is an average yearly decline of 1.4 percent. . .
- Oil and natural gas drilling permits in the United States
through August totaled 28,480, a decline of 49 percent from the 1985
eight-month total, according to Petroleum Information.
Permits for new exploration were 2,827 for the 1986 eight-month
period, a drop of 53 percent.
Permits for wells in search of new pays in existing fields were
down 47 percent, to 3,445 compared to 6,482 for the first eight
months of 1985.
Development well drilling permits numbered 22,208, a decline of
48.8 percent. . .
- Completions for domestic oil and natural gas wells for the
first half of 1986 dropped 25 percent compared to the same period in
1985, according to the American Petroleum Institute.
For 1986, oil well completions numbered 13,923; natural gas
wells, 5,075; and dry holes, 8,034, for a total of 27,032.
For the same period in the previous year, oil well completions
numbered 18,714; natural gas wells, 6,578; and dry holes 10,762,
for a total of 36,054.
The percentage decline in the categories was 26 percent for oil
well completions; 23 percent for natural gas wells; and 25 percent
for dry holes. Total decrease for the first eight months was 25
percent. . .
- Good Cents, a Public Service Company of Oklahoma energy
efficiency program, will be used to make three new Tulsa-area
convenience stores more efficient.
The program starts at the beginning of a project with the
companies making suggestions for the businesses to save money on
energy costs at the design stage.
The utility uses a computer analysis to calculate the anticipated
savings of construction under the program's guidelines. A savings of
10 to 50 percent on commercial customers' heating and cooling costs
can be realized through the program. The amount of savings is
determined by which options customers choose. The most cost savings
can be realized by installation of an energy efficient heat pump.
Lighting, controllable ventilation and levels of insulation in the
ceiling, walls and floor are also improvements made by the program. .
- The Energy Advocates will participate in an ""Industry Update
Breakfast'' Oct. 7.
The four Tulsans, James L. Houghton, John A. Brock, J.M. Graves
and Richard A. Williford, will discuss the southwestern oil and gas
economic crises with Washington media members. . .
- A Forum on Major Natural Gas Issues will be held Oct. 15-16
at the Royal Sonesta Hotel in New Orleans. The forum is sponsored by
the Interstate Oil Compact Commission.
Speakers will discuss a wide variety of topics, including
regulatory changes in Louisiana and Texas, natural gas supply and
demand projections, an explanation of Federal Energy Regulatory
Commission Orders 436 and 451, and the independent natural gas
producer's adjustment in marketing.
Registration is $150 per person or $35 for state government
personnel. . .
- The annual meeting of the Oklahoma-Kansas Division of the
Mid-Continent Oil and Gas Association will be held Oct. 7-8 at the
Excelsior Hotel, Tulsa.
James A. Middleton, president of Arco Oil and Gas Co., will be the
main speaker, discussing opportunities in oil and gas drilling,
development and production in the mid-continent region. He will also
address actions needed from industry and government to maintain a
healthy energy industry. …