North American Drilling Activity in 1967

Abstract

Total drilling activity in North America in 1967 amounted to 40,273 borings and 163,924,271 ft of hole compared with 44,622 borings and 183,405,161 ft of hole in 1966. Total exploratory drilling in Canada, Mexico, and the United States decreased noticeably compared with 1966. Drilling activity in Canada, which had increased sharply from 1962 through 1965, decreased in 1967 as in 1966. Actual figures, with 1966 counterparts in parentheses, are: Canada, 1,448 wells (1,484) and 6,420,367 ft (6,779,967); Mexico, 135 wells (153) and 1,295,160 ft (1,280,994); United States, 9,059 wells (10,313) and 49,124,222 ft (55,223,161). A total of 2,036 wells, or about 19.35% of all exploratory holes in the three countries, were found to be capable of producing some hydrocarbons, i.e., about 1 in 5. The success percentage for Canadian exploratory effort increased to 28.24 compared with 20.75 in 1966 and 25.0 in 1965. In Mexico the percentage of exploratory tests uccessfully completed was 23.7 compared with 29.4 in 1966. In the United States the success percentage was 17.60 compared with the all-time low of 15.43 in 1965. Wildcat drilling in the United States in 1967 is believed to have resulted in the discovery of less than 1 billion bbl of oil and less than 6 Tcf of gas. Discovery of such a small quantity of oil and gas, coupled with the sharp decrease in exploratory effort, the continuing unfavorable rate of commercial discoveries, and the high rate of domestic production, should be cause for concern. Although corresponding estimates are not available for Canada or Mexico, Canadian oil and gas reserves are believed to have increased significantly.