DEVELOPMENT ECLIPSING EXPLORATION ONSHORE

06/04/1990
G. Alan Petzet Exploration Editor Federal tax credits and horizontal drilling technology are fueling a large slice of onshore development in the U.S. So many profitable development prospects are available that exploratory drilling has sunk to the lowest level in recent years in many areas. Total drilling is picking up a little from 1989. The number of drilling permits issued in March rose 11.1% from February 1990, with the biggest increases in California and Texas. The first quarter figure, adjusted for differing numbers of filing days in each month, is 25% above the 1989 level. But the outlo...
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