Naval Petroleum and Oil Shale Reserves. Annual report of operations, Fiscal year 1993
During fiscal year 1993, the reserves generated $440 million in revenues, a $33 million decrease from the fiscal year 1992 revenues, primarily due to significant decreases in oil and natural gas prices. Total costs were $207 million, resulting in net cash flow of $233 million, compared with $273 million in fiscal year 1992. From 1976 through fiscal year 1993, the Naval Petroleum and Oil Shale Reserves generated $15.7 billion in revenues for the US Treasury, with expenses of $2.9 billion. The net revenues of $12.8 billion represent a return on costs of 441 percent. See figures 2, 3, and 4. In fiscal year 1993, production at the Naval Petroleum and Oil Shale Reserves at maximum efficient rates yielded 25 million barrels of crude oil, 123 billion cubic feet of natural gas, and 158 million gallons of natural gas liquids. The Naval Petroleum and Oil Shale Reserves has embarked on an effort to identify additional hydrocarbon resources on the reserves for future production. In 1993, in cooperation with the US Geological Survey, the Department initiated a project to assess the oil and gas potential of the program`s oil shale reserves, which remain largely unexplored. These reserves, which total a land area of more than 145,000 acres and are located in Colorado and Utah, are favorably situated in oil and gas producing regions and are likely to contain significant hydrocarbon deposits. Alternatively the producing assets may be sold or leased if that will produce the most value. This task will continue through the first quarter of fiscal year 1994.
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|Subject:||petroleum | oil shales and tar sands | energy planning, policy and economy | US NAVAL PETROLEUM RESERVES | COMPILED DATA | US NAVAL OIL SHALE RESERVES | PRODUCTION | SALES | EXPLORATION | PROGRAM MANAGEMENT | EXPENDITURES | SAFETY | ENVIRONMENT | STEAM INJECTION | GAS INJECTION|
|Type of publication:||Other|
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