The total number of wells drilled in Kentucky in 1948 dropped 15.1 per cent below the 1947 total. With a decrease of 18.7 per cent in the number of oil wells drilled, production declined a little over 700,000 barrels for a 1948 total of approximately 8,926,000 barrels. Total open-flow gas development in 1948 was 287,814 MCF even with a 38.3 per cent decrease in the number of gas wells drilled. The total number of dry holes drilled increased only 5.4 per cent.

Of the 42 new discoveries, there were 12 new fields, 17 new pools, 9 new producing beds in old fields, and 4 extensions. By far the greatest number of these 1948 discoveries were made in the western part of the state.

There has been a great deal of deeper drilling activity, most of which took place in eastern Kentucky. In all, 34 deep wells were completed in 1948, 6 of which were successful St. Peter gas wells located in the Furnace field. There were two discoveries in the Knox dolomite which are reported producing small amounts of oil.

Considerable information is now available on these Lower Ordovician formations due to the stepped-up drilling campaign of recent years, and the correct interpretation of these data may well lead to more important discoveries.