Estimated oil and gas reserves, Gulf of Mexico Outer Continental Shelf, January 1, 1978

Remaining reserves of oil* and gas in the Gulf of Mexico Outer Continental Shelf area have been estimated as 34.2 trillion cubic feet of gas and 2.7 billion barrels of oil as of January 1, 1978. These reserves are recoverable from 318 fields under the Federal submerged lands off the coasts of Louisiana and Texas. Original recoverable reserves are estimated to have been 69 trillion cubic feet of gas and 7 billion barrels of oil from 334 fields in the same geographic area. Included in this number are 16 fields that are depleted and abandoned. Not included are 35 new fields, discovered since September 1, 1976, that are not sufficiently developed to permit a reasonably accurate estimate of reserves. Estimates were made for individual reservoirs in 210 fields and on a field-wide basis for the other 124 fields.

*The term "oil" as used in this report includes crude oil, condensate, and gas-plant liquids.