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Long-term projection for U.S. oil and gas production and the demands for petroleum engineers and geologists

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  • Reis, John C.

Abstract

Historically, a gross revenue of $3 million (constant 1992 dollars) has been needed for each U.S. member of the Society of Petroleum Engineers (SPE) and the American Association of Petroleum Geologists (AAPG). This revenue per member is used with projected U.S. oil and gas production and price estimates to predict future U.S. SPE and AAPG membership levels, and hence, future demand for petroleum engineers and geologists. A large short-term membership decline of as much as 25% followed by a long-term decline of between 1 and 10% per year is projected. Remaining oil and natural gas production is projected to be between 30 and 118 billion barrels and 232 and 647 Tcf respectively. Price, new technology, access restrictions, environmental regulations, and premature abandonment of fields were considered in these projections.

Suggested Citation

  • Reis, John C., 1994. "Long-term projection for U.S. oil and gas production and the demands for petroleum engineers and geologists," Energy, Elsevier, vol. 19(1), pages 1-16.
    • Handle: RePEc:eee:energy:v:19:y:1994:i:1:p:1-16
    DOI: 10.1016/0360-5442(94)90100-7
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