In 1972, 147 wells were drilled in New York. This is an increase from 1971 drilling and is due largely to the sharply increased prices offered for crude and natural gas in this area. The current price for Bradford crude is $5.48/bbl, the highest paid since 1920. The current offer for new intrastate gas is $0.50/Mcf, nearly double the price of 2 years ago.

The only exploratory successes consisted of 1 small oil-field extension, 1 small Oriskany new-pool discovery, and 1 small Medina field extension. One Oriskany confirmation had an initial open flow of approximately 50 MMcf, which equals the record open flow recorded in New York.

Oil production in 1972 was 1,018,323 bbl, and gas production amounted to 3,678,561 Mcf. The first Onondaga reef production went on line in 1972, and 2 of the 3 reef fields are now producing gas.

Geophysical activity totaled 73 weeks of reflection seismic work--the highest since 1962.

Renewed drilling for Onondaga reefs is anticipated in 1973, as well as much increased drilling in the older oil and gas producing areas, because of the significant recent increases in wellhead prices for oil and gas in this area and the increasing demand for these resources.