Figure 1. Percent of U.S. Oil and Gas Production, Reserves, and Exploration and Development Expenditures for Nonmajor Oil and Gas Producers

Note: Due to year-to year volatility, expenditures are shown as a three-year moving average. Nonmajors=Total (less 15 percent for royalties) minus majors.
Source: Reserves and production: U.S. Total: Energy Information Administration, U.S. Crude Oil, Natural Gas, Natural Gas Liquids Reserves, DOE/EIA-0216(93) (Washington, DC, October 1994). Majors: Energy Information Administration, Form EIA-28. Expenditures: Energy Information Administration, U.S. Energy Industry Financial Developments, 1995 First Quarter, DOE/EIA-0543 (95/1Q) (Washington, DC, June 1995)