Thirteen exploratory wells were drilled in Alaska in 1976. There were no discoveries announced, but 4 suspended wells on the Arctic North Slope may have found oil. All 4 wells are in close proximity to the Prudhoe Bay field. There were 53 development wells drilled of which 3 were dry; 17 service wells were completed.

Industry geologic-geophysical field activity consisted of 151.8 crew-months, a decrease of 32% compared with 1975. Most of the reduction occurred on the North Slope and in the Gulf of Alaska, but 5 areas showed increased activity from the previous year.

Other exploratory developments included the drilling of a deep Continental Offshore Stratigraphic Test (COST) well in St. George basin and 3 shallow stratigraphic holes on the Kodiak shelf.

During 1976, federal acreage under lease marginally increased owing to the successful Gulf of Alaska OCS sale. State acreage under lease decreased 13%. Oil production showed a decrease of 6.9%, but gas production was up 6.3% for the year. Development drilling registered a large increase in 1976 primarily because of new wells in the Prudhoe Bay field which is scheduled to start production in 1977.

The future land situation in Alaska is confused by pending legislation and the lack of a reliable timetable for announced federal and state lease sales.