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The AAPG/Datapages Combined Publications Database
AAPG Bulletin
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European drilling and exploration levels fell from 1985 highs, most noticeably in the second half of 1986, as oil prices plummeted nearly 50% for the year. Licensed acreage was down 38%, seismic exploration declined by more than 15%, and development drilling was off 17% from 1985 levels. Exploratory drilling, up more than 2%, mainly reflected first-quarter activity. Drilling objectives were largely conservative and in regionally productive areas. The North Sea led in new-field wildcat discoveries with 28, followed by Italy with 22. Italy set a new drilling record in 1986, with 106 exploratory wells and 99 development wells. Spain's Gaviota field began simultaneous development and production, boosting the country's gas output 39%. Overall, European 1986 oil production rose about 2% and natural gas output fell by nearly 2% from 1985.
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