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AAPG Bulletin

Abstract


Volume: 39 (1955)

Issue: 6. (June)

First Page: 976

Last Page: 987

Title: Developments in Upper Gulf Coast of Texas in 1954

Author(s): C. C. Wahl (2)

Abstract:

The Upper Gulf Coast coincides with Texas Railroad Commission District III.

The total of 1,835 wells drilled in 1954 is a slight increase over 1953. Of these, 1,360, or about three-fourths, were development wells. There were 1,240 development wells drilled in 1953. Exploratory tests numbered 475 compared with 571 in 1953.

Wildcat drilling resulted in 33 new-field discoveries, and exploratory and development drilling accounted for 97 new-pool discoveries and extensions. In 1953, new-field discoveries numbered 37 and new-pool discoveries and extensions totaled 101.

Oil and condensate production for 1954 amounted to 158,229,465 barrels.

Record-breaking bonuses were paid for offshore leases at the first Federal Government sale since settlement of the ownership controversy. The Standard Oil Company of Texas paid $4,565,251.99 for 5,760 acres, thus setting a bonus record for a single tract offshore from Texas. The Magnolia Petroleum Company paid $3,180,960, or $2,209 per acre for a tract containing 1,440 acres, setting a record for the highest per-acre bonus ever paid at a lease sale in the Gulf of Mexico.

Geophysical activity totaled 1,805 crew-weeks, of which 90 per cent is reflection-seismograph time.

Indications are that exploration and development activities in 1955 will maintain or exceed the 1954 level.

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