Developments in Louisiana Gulf Coast Offshore in 1979

Abstract

In offshore Louisiana in 1979, 923 wells were drilled, a decrease of 25 from 1978. The overall success rate increased 3.5% from 1978; 40 more wildcat wells drilled, with an increase in success of 3.3% (to 19.3%). Exploratory wells increased from 52 in 1978 to 98. The success rate decreased 1.8% (to 58.2%) with 57 new-pool and outpost discoveries. In Federal OCS Sale 58, held in July 1979, 55 tracts in offshore Louisiana were leased for an average per acre bonus of $3,385 on 253,507 acres. In Sale 58A, held in November 1979, 75 tracts in offshore Louisiana were leased for an average per acre bonus of $4,831 on 345,711 acres. Geophysical activity increased sharply from 303 crew-weeks reported in 1978 to 583 crew-weeks in 1979.