In 1974, 348 wells were completed in New York. The 1974 price for crude oil, $10.65/bbl, and new intrastate natural gas, an average of 80¢/Mcf, directly contributed to the more than doubling of 1973 completions.

Exploratory drilling (49 tests) resulted in 12 new gas field discoveries and 7 extensions. Nine discoveries and all of the extensions were in the Silurian Medina sandstone, mostly in the far southwestern part of the state. There were 2 Devonian Oriskany Sandstone discoveries and one Ordovician Trenton Limestone discovery.

Oil production in 1974 was 895,603 bbl and gas production amounted to 4,990,416 Mcf.

Reflection seismic work totaled 27 crew-weeks, down from 92 crew-weeks last year.

Undeveloped acreage held is estimated at less than 4 million acres. In 1974, 36,944 acres of state lands were leased at an average price of $5.76/acre.

A high level of Medina sandstone and oil-field-development drilling is expected to continue. Exploratory drilling is not expected to increase in 1975.