Abstract
The objectives of this paper are to identify improvements made during the past 15 years in the technology and methods used for the exploration, development, and production of oil reserves in the U.S. Wherever possible, observations have been made with respect to the effect of these improvements on the exploitation of these reserves. Areas of research that will be of interest in the future have also been referenced. In this regard, it may be recognized that after an era in which it was important to find oil at any price to ensure supplies, the petroleum industry is now entering a period of systematic research to reduce costs in response to the new market conditions.
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