News Release
api.org
Third Quarter API Drilling Statistics
WASHINGTON, October 28?Completions of U.S. oil wells, natural gas wells and dry holes declined by 21 percent in the third quarter of 1999 compared with the same period of 1998, the American Petroleum Institute estimated today. Oil well completions dropped 27 percent, and natural gas completions fell 18 percent for the quarter compared to the same period of 1998.
According to the 1999 Quarterly Well Completion Report: Third Quarter, 5,226 oil wells, natural gas wells and dry holes were completed in the third quarter. In the third quarter of 1998, there were 6,582 completions. For the third quarter of 1999, gas completions were down 18 percent to 2,781; oil well completions declined 27 percent to 1,445, and dry holes were down 18 percent to 1,000.
Total exploratory completions were down 27 percent in the third quarter and development completions were down 20 percent compared to the same quarter last year.
API also reported a 36 percent decrease in total footage drilled in the third quarter for a total of 23,043,000 feet.
The API Quarterly Well Completion Report is available on an annual subscription basis from the American Petroleum Institute, Publications and Distribution Section ORDER DESK, 1220 L Street, N.W., Washington, D.C. 20005. Telephone (202) 682-8375. Fax: (202) 682-4776.
The cost of an annual print subscription is $200 |
