API: U.S. oil, gas drilling up - April 28, 2001

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2001

Vol. 6, No. 4

Week of April 28, 2001

API: U.S. oil, gas drilling up

Petroleum News Alaska

The American Petroleum Institute said April 10 that estimated completions of U.S. oil wells, natural gas wells and dry holes increased by 63 percent in the first quarter of 2001 compared to the same period in 2000. Oil well completions rose 21 percent and natural gas completions rose 106 percent compared to the first quarter of 2000. The API said 9,539 oil and gas wells and dry holes were completed in the first quarter of this year, compared to 5,839 completions in the first quarter of 2000.

By comparison with the first quarter 2000, natural gas completions for the first quarter were 6,119, up 106 percent; oil completions were up 21 percent to 2,260; dry holes rose 16 percent to 1,160. Total exploratory completions were up 10 percent in the first quarter and development completions were up 69 percent compared to the same quarter last year.

API also reported a 76 percent increase in total footage drilled in the first quarter for a total of 48,807,000 feet.

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