Operators drilled more wildcats, fewer 2001 discoveries

08/26/2002
Operators made 173 new oil field discoveries and 162 gas discoveries outside North America in 2001, down from 2000 totals, reported IHS Energy Group, Epsom, U.K.Companies reported 53 fewer discoveries last year than in 2000 even though they drilled 73 more new field wildcats. Click here to enlarge imageIHS estimated that the 2001 discoveries excluding North America contained total recoverable volumes of 8.9 billion bbl of liquids and 42.2 tcf of gas (Table 1). Figures show 2001 to be the first year since 1995 when gas discoveries were significantly below annual production.World discoveriesThe IHS annual World Petroleum Trends report, published on CD-Rom and online, showed that in 2001 op...
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