Reserve replacement suffers as world wildcatting declines

08/02/1999
World new field wildcat drilling outside North America and the Former Soviet Union declined in 1998 in all areas except North Africa.NFW drilling in Saharan Africa last year was up 12% from 1997, IHS Energy Group`s World Petroleum Trends 1999 report concluded.The rest of the world covered by the report showed declines ranging from 2% in the Middle East to 20% in Europe.North America, which accounts for 60% of worldwide NFW drilling, experienced a 24% drop in 1998 vs. 1997.The report summarizes 1989-98 reserves, exploration performance and activity, licensing, production, and hydrocarbon balance for more than 150 countries.Wildcatting, success ratesWithin the Saharan Africa regional figure...
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