ABSTRACT
Development during 1957 was statistically comparable with the previous year. Several of the new discoveries have established encouraging reserves although no major fields were indicated.
There were 15 new-field discoveries: 9 in the Upper Cretaceous and 6 in the Lower Cretaceous. Seventeen field and near-field exploratory tests discovered new reserves. One of these was in the Eocene, 3 in the Upper Cretaceous, 12 in the Lower Cretaceous, and 1 in the Jurassic.
An increase of 7.9% occurred in total wells drilled, although wildcat drilling declined by 3.4%. Development drilling increased 13%, resulting in a success ratio of 4.5–1.
Geophysical activity continued a gradual decline, decreasing by 16% from 1956. Altogether, 904 crew-weeks were reported.
Approximately 375,000 acres were acquired, with an average bonus cost of slightly over $13.00.
