The highlight of developments during 1947 was the leasing of certain submerged land in the Gulf of Mexico by thirteen companies. Leases cover 378,155 acres on 26 prospects. There is considerable hope that important new discoveries may result.

There were 874 wells drilled in the district in 1947, representing a 28.3 per cent increase over 1946. The increase was more marked in exploratory drilling than in field development.

Wildcats, which increased 35.5 per cent over 1946, resulted in 21 new discoveries as compared with only 15 in 1946, representing a 40 per cent increase. All of the new discoveries are of minor importance. They include 10 oil fields, 8 gas-condensate fields, and 3 dry-gas fields, New sands were found in 9 of the new fields during 1947.

An idea of the importance of development in old fields may be gained from the various estimates on additions to reserves in the district which show that from six to ten times as much oil and about twice as much gas were added from this source as from all the new fields combined. Field development was up 26.5 per cent over 1946 and was more successful than it was last year. There was more concentration of drilling on old piercement domes than for several years. A total of 51 important developments in 44 old fields during 1947 include 29 new sands, 15 new reservoirs, and 7 extensions.

Geophysical work increased in 1947 over 1946 and continued to lead in finding new fields in the district. Subsurface work was becoming of increasing importance and should be given a large share of the credit for adding to the reserves of old fields in 1947.

A new interior piercement salt dome was discovered in central Madison County, but no production was established.

The first Woodbine sand production for the district was obtained from a small gas well in the Glendale field of Trinity County. The trend will be limited to the extreme north part of the district.

Oil production in 1947 amounted to 191,166,000 barrels, up 6 per cent over 1946 and setting an all-time record except for the war year, 1944, when production was slightly greater.