Petroleum Developments in Mexico in 1955

Abstract

The 330 wells drilled in Mexico in the search for oil and gas in 1955 represent an increase of 12.6 per cent over the 293 wells drilled in 1954. Total footage for 1955 was 1,790,260 feet, an average of 5,425 feet per well and an all-time maximum for Mexico. One hundred and fourteen wells were exploratory tests (74 new-field wildcats). Of these, 46 (40 per cent) were completed as producers, resulting in the discovery of 15 new oil and/or gas fields, 22 new pools, and 9 extensions to previously known production. Stratigraphic drilling and gravity-meter surveys were continued in the Lower California and Yucatan peninsulas. A new oil field was found in the Veracruz embayment on gravity information but the reflection seismograph and subsurface geology continue to be the most successful methods of exploration. Crude-oil and distillate production for 1955 was 91,248,161 barrels, an increase of 6,017,954 barrels (7.1 per cent) over the 85,230,207 barrels produced during 1954. Total gas production was 191,771,106 MCF.