The Teapot Dome field is the 99th largest oil field in the United States with a proved reserve of 42,515,000 bbl, yet the field is sparsely drilled and underdeveloped. The writer credits Naval Petroleum Reserve No. 3 with 38 million bbl of future reserves.

The long history of Teapot Dome since the early 1900s, sometimes turbulent, sometimes dormant, was marred by government scandal, akin to Watergate in notoriety, in the 1920s. Harry F. Sinclair's Mammoth Oil Company obtained leases from the Department of the Interior in a fraudulent manner which led to prison sentences for some of the principals.

Oil production in the Teapot Dome field is from three formations--the shallow Shannon at depths of 400 to 1,000 ft (122 to 305 m); the Second Wall Creek member of the Frontier Formation at 2,500 to 3,000 ft (362 to 914 m); and the Tensleep Sandstone at 5,500 ft (1,676 m). The Second Wall Creek is the principal producing sandstone and has the greatest future production potential.

Current production is small. As of December 1973, each of the 42 Navy wells averaged 4.4 b/d from the Shannon Sandstone, and 49 offset wells averaged 2.2 b/d each. In the Second Wall Creek, each of the 23 Navy wells averaged 10 b/d and 8 offset wells averaged 14.9 b/d each. Total daily production was 416 bbl and grand total for Teapot Dome through December 1975 was 7,762,709 bbl.