Petroleum Developments in Mexico in 1964

Abstract

Six hundred thirty-one wells were drilled in Mexico in 1964 compared with 554 wells drilled during 1963, an increase of 13.9%. The 523 development wells drilled in 1964, an increase of 14.9% over 1963, resulted in 330 oil wells and 73 gas wells for a success percentage of 62.6. Fifty-eight new-field wildcats were drilled in 1964, an increase of 9.4% over 1963, which resulted in the discovery of 10 new oil and gas fields. The discovery ratio is 1:5.8. In 1963 oil was produced from 8 wells drilled in the extension of the Golden Lane offshore on the continental shelf; previous wells drilled were stratigraphic tests only. Exploration activities: Seventeen surface geological parties, 17 seismic crews, 4 gravity-meter parties magnetometer party: total, 39 exploratory crews (compared with 34 operated during 1963, an increase of 14.7%). Annual oil production: 129,503,502 bbls., an increase of 3,674,046 bbls. over 1963. Annual gas production: 484,988,489 Mcf, an increase of 83,473,205 Mcf. Reserves: Proved reserves of oil and gas equivalent as of January 1,1965: 5,227 million bbls. (5,000 cu. ft. = 1 barrel oil). Drilling activities: Wells drilled, 631; exploratory holes, 109,(FOOTNOTE 3) new-field wildcats, 58; new oil- and gas-field discoveries, 10 (2 of these may be non-commercial). Total footage during 1964: 5,509,224. Average depth drilled in new-field wildcats: 9,472 ft. Discovery methods: 2 new fields located by seismology, and 8 new fields located by subsurface geology and seismology.