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AAPG Bulletin

Abstract


Volume: 73 (1989)

Issue: 10B. (October Part B)

First Page: 152

Last Page: 158

Title: Oil and Gas Developments in West Texas and Eastern New Mexico in 1988

Author(s): Thomas J. Turmelle (2), Donald G. Burdick (2), A. Scott Dufford (3), Charles F. Garvey (4), Wayne R. Gibson (5), Roger J. Wetz (6)

Abstract:

In 1988, the oil and gas industry in west Texas and eastern New Mexico stabilized after a disastrous 1987. The total number of wells drilled was up 6.0% to 3,341. The number of exploratory wells drilled was up 4.4% to 571, and exploration footage was up 10.1% from 1987. The success rate for exploratory drilling decreased from 21.2% in 1987 to 19.4% in 1988. Development activity increased 6.3% to 2,770 wells, and total development footage increased by 12.4%. Oil production for 1988 was 481,818,561 bbl, down 2.2 from 1987. Gas production, however, was up 7.5% to 2,014,627 mmcf. Seismic crew activity decreased 7% from 1987. Leasing activity was also down. The amount of acreage leased was down 30%, and the total bonus paid was down 51%.

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