Narrative:

The captain and I performed a rejected takeoff procedure. I was the flying pilot and the captain was the non-flying pilot. We were instructed to depart runway xx. We crossed the runway hold short line and the captain transferred control of the aircraft to me. I advanced the thrust levers; stabilized the engines at 40% and then further advanced the engines to takeoff power. I made the 'check thrust' callout and then the captain placed his hand on the thrust levers. As we accelerated down the runway the captain noticed that the oil quantity of the number one engine was decreasing at a rapid rate and he called 'reject.' I immediately transferred control of the aircraft back to the captain and then informed tower that we were rejecting on runway xx and to please 'standby' as we decelerated to a stop on the runway. When the aircraft came to a complete stop I then made a PA to all the passengers to 'please remain seated; please remain seated.' after I made the announcement to the passengers to remain seated I asked the captain; 'what happened; why did we reject?' he stated that he saw the left engine oil quantity falling quickly. Tower then asked us if we needed any assistance. The captain and I felt that we didn't so I informed them that we did not. We then proceeded to exit the runway. As were exiting the runway the captain spoke with the flight attendants and ensured that both they and the passengers were ok. Everyone was fine. After we exited the runway we stopped again on the taxiway to further assess the situation and to then perform the rejected takeoff checklist on the back of the QRH. We determined that the aircraft was in fair working order and that the situation was stable enough to return to the gate normally without any assistance. We taxied the aircraft back to the ramp and parked at the gate without any further incident. We shut the aircraft down and then performed the parking checklist. We then coordinated with the gate agent and flight attendants to further stabilize the situation.

Related reports:

Google
 

Original NASA ASRS Text

Title: A B737 Captain rejected the takeoff near 100 KTS after seeing the oil quantity rapidly decreasing.

Narrative: The Captain and I performed a RTO procedure. I was the Flying Pilot and the Captain was the Non-Flying Pilot. We were instructed to depart Runway XX. We crossed the runway hold short line and the Captain transferred control of the aircraft to me. I advanced the thrust levers; stabilized the engines at 40% and then further advanced the engines to takeoff power. I made the 'Check Thrust' callout and then the Captain placed his hand on the thrust levers. As we accelerated down the runway the Captain noticed that the oil quantity of the number one engine was decreasing at a rapid rate and he called 'REJECT.' I immediately transferred control of the aircraft back to the Captain and then informed Tower that we were rejecting on Runway XX and to please 'Standby' as we decelerated to a stop on the runway. When the aircraft came to a complete stop I then made a PA to all the passengers to 'PLEASE REMAIN SEATED; PLEASE REMAIN SEATED.' After I made the announcement to the passengers to remain seated I asked the Captain; 'What happened; why did we reject?' He stated that he saw the left engine oil quantity falling quickly. Tower then asked us if we needed any assistance. The Captain and I felt that we didn't so I informed them that we did not. We then proceeded to exit the runway. As were exiting the runway the Captain spoke with the flight attendants and ensured that both they and the passengers were OK. Everyone was fine. After we exited the runway we stopped again on the taxiway to further assess the situation and to then perform the RTO checklist on the back of the QRH. We determined that the aircraft was in fair working order and that the situation was stable enough to return to the gate normally without any assistance. We taxied the aircraft back to the ramp and parked at the gate without any further incident. We shut the aircraft down and then performed the Parking Checklist. We then coordinated with the Gate Agent and flight attendants to further stabilize the situation.

Data retrieved from NASA's ASRS site as of July 2013 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.