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Exploratory drilling decreased to 18 wells this year. Several of these were suspended for the winter and will presumably become active again in 1964.
The most important thing that happened in 1963 was the discovery of oil by Shell et al. under the waters of Cook Inlet. Tests indicate that producing capacities of at least 600 BOD are possible. This is the first real encouragement the industry has been insofar as oil is concerned since Swanson River was discovered in 1957.
The second most important thing that occurred was the high level of exploration on the Arctic slope. Five seismic crews operated during the year and a sixth was moving in at year's end. Ten operators did 29 crew-months of surface geology during the summer.
The seismograph continues to be a popular tool in the Cook Inlet where nearly 4 crew-years of work were done. This work undoubtedly will manifest itself at future lease sales and in exploratory drilling.
The Copper River basin seems to be going through a period of renewed interest by drilling, seismograph, and surface exploration. Two wells were completed and a third started. Three seismic crews were active and three operators had surface crews in the basin.
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