ENERGY
From Times Staff and Wire Reports
Oil and gas companies operating in the United States paid more to conduct exploration and development in 1990 than did companies operating overseas, an industry survey reported. John S. Herold Inc., in its annual analysis of the cost of oil and gas reserve replacement, said the cost of developing domestic reserves was $4.99 per barrel of oil equivalent, about the same as for 1989. The cost of development overseas, however, was $3.97, a drop of 8% from the year before. Worldwide, the cost was $4.35, or 4% below 1989.
