Abstract
North-central Texas has been prospected and exploited for oil and gas for more than 70 years. In 1973, gas-well discoveries exceeded new-oil discoveries for the first time. Total wells drilled decreased 3.7% compared to 1972, but exploratory drilling was up 21%. The exploratory-well success ratio rose markedly from 15.8% in 1972 to 29.5% in 1973. Rising gas prices in the intrastate market spurred gas exploration and leasing activity in the Fort Worth basin. Oil production declined 6%, a decrease of 5,412,200 bbl from 1972.
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