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In 1970, Petroleos Mexicanos drilled 523 wells. Of these, 130 were exploratory, of which 8 did not reach their objective because of mechanical failure; they also drilled 393 development wells.
The total footage drilled in 1970 was 4,545,500 ft. Of this amount, 1,300,878 ft was exploratory drilling. The average depth of exploratory wells was 10,068 ft and of development wells, 7,238 ft.
The success of new-field wildcats decreased from 23% in 1969 to 18.8% in 1970, and the result of drilling of exploratory wells of other categories declined from 45.5% success in 1969 to 28.3% in 1970.
During 1970, 27 surface geologic parties, 15 subsurface geologic parties, 23 seismic parties, 3 gravimetric parties, and 1 land magnetometer crew were active.
In 1970, 130 exploratory wells were drilled; of these 8 did not reach their objectives because of mechanical failure. Of the remaining 122 wells, 76 were drilled as new-field wildcats that resulted in 13 oil and gas producers, for a success of 18.8%. The object of 49 of the exploratory failures was to extend productive acreage in fields under development or to discover new pools on producing structures, and 5 others were stratigraphic tests in areas where commercial amounts of hydrocarbons may exist. The success of productive wells in the exploratory wells of other categories was 28.3%.
Annual production of oil and gas:
The 1970 production of crude oil and condensate was 177.6 million bbl, an increase from 1969 of 5.5%. Gas production was 665 Bcf, an increase of 9.2% from 1969.
At year end, the reserves of oil and gas (thermal equivalent) reached 5,768 million bbl, a decrease of 2 million bbl from 1969.
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