API: US completions up 10% in fourth quarter of 2005

Total well completions in the US increased by 10% in the fourth quarter of 2005 from year-earlier levels, with oil and gas completions up 11% in each category, according to American Petroleum Institute. Gas wells outnumbered oil wells by about 2.5:1.The report, which reported a 6% increase in dry holes, also showed a 13% year-to-year increase in development completions and a 14% decline in exploratory completions.It said an estimated 11,099 oil wells, gas wells, and dry holes were completed during the period, compared with 10,052 in the 3 months ended Dec. 31, 2004. There were 6,955 gas well completions, 2,944 oil well completions, and 1,150 dry holes in 2005’s fourth quarter.Total ...

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