U.S. DRILLING HEADS FOR ABYSMAL YEAR

G. Alan Petzet Exploration Editor Robert J. Beck Economics Editor Well completions in the U.S. will fall to a modern record low during 1992. In fact, languishing U.S. oil and gas basins may see fewer wells drilled than in any year since 1945. A continuing move by U.S. operators to drill more non-U.S. prospects and fewer domestic ones is one factor in the decline. Another warmer than normal winter has so far held back gas prices from much of a seasonal surge, and expectations are that crude oil

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