Abstract
The Permian basin has remained one of the more active areas in the United States for exploration and development of oil and gas reserves. Exploratory wells totaled 712 and development wells 2,359. This represented an increase of 76 exploratory wells and an increase of 12 development wells compared with 1968. Exploratory well success was 28.3%, an increase of 2.8% from 1968. Development well success was 85.0%, a decrease of 1.1% from the preceding year. In 1969 88 more wells were drilled than in 1968, with a net increase in footage drilled of 1.4 million. Exploration for deep gas was predominant last year as in previous years. The most active exploratory areas were the Delaware basin, Central Basin platform, Northwest shelf and, to a minor degree, the Val Verde basin. The Allison-Vada-Inbe-Bagley Permo-Pennsylvanian trend in New Mexico and the Ward-Estes area and Spraberry trend of West Texas continued to be the more active development areas. Seismic activity decreased a mere 0.91% from 1968. Leasing continued at an even pace in some areas, although it was quite competitive in others. Sulfur leasing decreased considerably.
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