API: 4Q 2011 US oil well completions top year-earlier total
US oil drilling in fourth-quarter 2011 was up from a year earlier, the American Petroleum Institute said in its latest quarterly well completion report.
The report estimates that 6,149 oil wells were completed in the final 2011 quarter, up 10% from fourth-quarter 2010, when API reported that total well completions were an estimated 10,487 (OGJ Online, Jan. 14, 2011).
The latest report estimates that a total of 10,383 wells were completed in fourth-quarter 2011, including 3,217 natural gas wells and 1,017 dry holes. Estimated drilling footage was 74,650,000 ft, a 1% increase from fourth-quarter 2010.
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.