API: 4Q 2011 US oil well completions top year-earlier total

US oil drilling in fourth-quarter 2011 was up from a year earlier, the American Petroleum Institute said in its latest quarterly well completion report.

The report estimates that 6,149 oil wells were completed in the final 2011 quarter, up 10% from fourth-quarter 2010, when API reported that total well completions were an estimated 10,487 (OGJ Online, Jan. 14, 2011).

The latest report estimates that a total of 10,383 wells were completed in fourth-quarter 2011, including 3,217 natural gas wells and 1,017 dry holes. Estimated drilling footage was 74,650,000 ft, a 1% increase from fourth-quarter 2010.

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