Abstract
In offshore Louisiana in 1978, 948 wells were drilled, a decrease of 39 from 1977. The overall success rate decreased 1.7% from 1977. There were 18 fewer wildcat wells drilled, with a decrease in success rate of 3.7% (to 16%). Exploratory wells dropped from 121 in 1977 to 52. The success rate increased 12.9% from 31 discoveries in 1977 to 57 in 1978. In Federal OCS Lease Sale 45, held in April 1978, 57 tracts in offshore Louisiana were leased for an average per acre bonus of $2,202 on 262,250 acres. In Sale 51, held in December 1978, 48 tracts in offshore Louisiana were leased for an average per acre bonus of $1,860 on 229,875 acres.
Geophysical activity decreased markedly from 351 crew-weeks reported for 1977 to 303 crew-weeks in 1978.
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