U.S. Oil, Gas Drilling Activity Rises In First Quarter

Source: API 4/12/2006, Location: North America

Estimated completions of U.S. oil wells, natural gas wells and dry holes increased by 9 percent in the first quarter of 2006 compared with the same period of 2005, the American Petroleum Institute reported today. Oil well completions rose 10 percent, and natural gas completions increased 8 percent for the quarter compared to the same period of 2005.

According to the 2006 Quarterly Well Completion Report: First Quarter, an estimated 11,527 oil wells, natural gas wells and dry holes were completed in the first quarter. In the first quarter of 2005, there were an estimated 10,534 completions. For the first quarter of 2006, gas completions rose 8 percent to 6,957; oil well completions climbed 10 percent to 3,358, and dry holes rose 16 percent to 1,212.

Total exploratory completions rose 12 percent in the first quarter and development completions were up 9 percent compared to the same quarter last year. API also reported total estimated footage drilled was 63,386,000 feet in the first quarter, an increase of 12 percent over the same quarter last year.


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