October 31, 1975 - Gerald R. Ford Presidential Library and Museum
October 31, 1975 - Gerald R. Ford Presidential Library and Museum
October 31, 1975 - Gerald R. Ford Presidential Library and Museum
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Table 22--COMPARISON OF PROVED CRUDE OIL RESERVE<br />
STATE AGENCIES VS. MAJOR FIELD STUDIES ESTIMATES,<br />
State Field<br />
S ta te Agency<br />
{MMBbls)<br />
Major Field<br />
Studies<br />
{MMBbls)<br />
State Est.<br />
as a Percent<br />
of Field<br />
Studies Est.<br />
Calif. Heavy Oi 1 Fields 1,395.4 2,189.9 63.7<br />
Los Angeles Basin 759.0 1,010.6 75.1<br />
Fields<br />
Fla. Jay 273.1 255.6 106.8<br />
A comparison of the State reserve estimates <strong>and</strong> those of the Major<br />
Oil <strong>and</strong> Gas Field Studies indicated significant differences. In Californi<br />
a, State crude oil reserve est"imates tended to be lower than the<br />
estimates from the field studies. California reported proved reserves<br />
only. The State may classify some additional reserves as "indicated<br />
which could significantly alter the comparisons. Florida's Jay field<br />
crude oil reserve estimate was marginally higher than the corresponding<br />
estimate from the engineering study.<br />
43
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