Manitoba oil activity review, 1991

In an annual survey of Manitoba's petroleum industry, data are presented on oil and natural gas leases and sales, geophysical activity, exploration and drilling activity, production, exports to other provinces and the USA, oil prices and sales value, royalties and taxes, direct revenues from oil exploration and development, reserves, industry expenditures, and oil fields. Throughout the report, explainations are given of the items covered. Descriptions are made of new developments, the oil market, oil policies, incentive programs, and industrial activities. During 1991, 54 wells were drilled, compared to 79 in 1990. Oil production was down ca 3% from 1990 levels, to 712,792 m3, the value of the oil produced decreased 21% to ca $90.3 million, and provincial revenues from the oil industry declined by 15%. Oil industry expenditures in the province were estimated at $69 million, down 9% from 1990. As of the end of 1991, there were 11 oil fields and 118 non-confidential oil pools designated in Manitoba. The forecast for 1992 indicates that exploration activity will increase in response to new incentive programs. Crude oil production is expected to decline slightly to about 667,000 m3. 9 figs., 17 tabs