North American Drilling Activity in 1976

Abstract

Total drilling activity in North America increased in 1976 compared with 1975. The 47,480 total wells drilled in the United States, Canada, and Mexico is an increase of 8.7% compared with 1975, and the 39,145 mi of footage drilled is a 5.9% increase over 1975. Canada showed an increase of 34.1% in total wells drilled (5,689) and a 31.9% increase in the amount of footage drilled (18,373,281). The 169 new-field wildcat discoveries represented a success of 35.6%, an all-time high. Of these discoveries, 131 were in Alberta and 24 were in Saskatchewan. The new-field wildcats, and new-pool wildcats accounted for 905 of the 1,307 exploratory discoveries. In Canada 53.2% of the 2,459 exploratory wells drilled were successful. In 1976 Mexico drilled a total of 336 exploratory and development wells. This number represents a 4.8% decrease compared with 1975. Of this number, 79 were exploratory and 257 were development. New-field wildcat drilling accounted for 18 discoveries with a success of 28%. Overall exploratory success was 30%, resulting in 24 discoveries, 10 of which were in the Northeast Zone, and 9 in the South Zone. In the United States drilling activity increased 6.03% and footage drilled increased 3.85% compared with 1975. There were 986 new-field discoveries -- the highest since 1956. The ratio of dry holes to producers was the lowest in history, 4.92:1, and inversely the success was the highest, 16.88%, which is substantially higher than the normal 9 to 11%. Estimates of ultimate reserves discovered in 1976 in the United States showed a decrease in volume over those discovered in 1975. The new fields in 1976 discovered an estimated 513.04 million BO and condensate and 4.9 TCFG; 1976 production remains significantly greater than the amount found.