API reports jump in 3Q oil well completions
US oil drilling in this year’s third quarter climbed 16% from a year earlier, the American Petroleum Institute said in its latest quarterly well completion report.
The report estimates that 10,574 wells were completed in the third quarter, including 6,379 oil wells, 3,188 natural gas wells, and 1,007 dry holes.
A year ago API reported that an estimated 4,434 gas wells were completed in 2010’s third quarter, 28% more than during the comparable 2009 period (OGJ Online, Oct. 26, 2010).
Estimated footage was 77,123,000 ft drilled in the recent quarter, a 6% increase from third quarter 2010.
An estimated 31,620 wells have been completed to date in 2011. API also reported increases in oil well completions for the 2011 first and second quarters (OGJ Online, Apr. 15, 2011; OGJ Online, July 15, 2011).
Marilyn Radler | Senior Editor - Economics
Covers worldwide oil and gas market developments, creates forecasts, and compiles production and reserves statistics for Oil & Gas Journal. She joined OGJ in 1996 as Survey Editor. She holds a BA in Economics from the University of Texas at Austin. A Past President of the Houston chapter of the United States Association for Energy Economics, Marilyn currently serves as a USAEE council member.
