TIGHT GAS SANDS DRILLING BUOYING U.S. E&D ACTIVITY

11/02/1992
Patrick Crow Washington Editor A.D. Koen Gulf Coast News Editor U.S. federal tax credit for drilling wells in tight gas sands formations has contributed significantly to U.S. exploration and development activity. The credit, due to expire for new wells at yearend, has been a key factor in the rebounding U.S. active rig count in second half 1992. Drilling in tight gas sands currently accounts for as much as one third of the active U.S. rig count. By mid-October, the number of rigs drilling for gas accounted for at least 80% of the increase since July in Smith International Inc.'s count of working rotary rigs in t...
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