Abstract
A total of 4,900 wells was drilled during 1977 in CSD Districts 13 (eastern New Mexico) and 26 (West Texas). This was an increase of 10.4% from the 1976 figures. Exploratory drilling was at its highest level since 1959. Production declined 3.3% during this same period, despite a 12% increase in development drilling. The exploratory success rate was 33.6% overall, a decrease of 1.2% from 1976. Of the 308 completed wildcats, only 36 ranked as high as the D classification established by Lahee. There was a 4.9% increase in geophysical activity. New Mexico recorded a decline, particularly in Lea County (43.8%), but Texas had a 7% gain. Morrow gas prospects experienced a doubling of bonuses in eastern New Mexico and leasing was active for carbon dioxide prospects in northeastern New Mexico. The southern part of the Delaware basin in Texas had an increase in both price and competition for leases. University Lands average cost per acre increased 90.6%.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
